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.

Trump distances himself from earlier tariff threat on nations buying Russian oil, including India. It has sparked fresh debate on U.S. trade strategy toward India, China and global energy realignment.