President Trump said on Tuesday that he would impose higher tariffs on India in the next 24 hours, a day after warning that he would “substantially” increase the 25 percent tax the United States has already imposed on the country’s goods.

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil.

Indian experts believe the U.S. president is trying to gain short-term leverage in trade negotiations with New Delhi.