President Donald Trump said he’d impose increased tariffs on countries buying energy from Russia while clarifying that levies on semiconductor and pharmaceutical imports would be announced “within the next week or so.

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.