President Donald Trump said he will "very substantially" raise tariffs on Indian goods within the next 24 hours, citing New Delhi’s continued purchases and resale of discounted Russian crude that he argues are helping to finance Moscow’s war in Ukraine. The duty on Indian exports currently stands at around 25%, but Trump indicated the rate would climb sharply, calling India "the highest-tariff nation" and "not a good trading partner." The move represents the most aggressive U.S. trade action against India since Washington revoked the country’s preferential market-access privileges in 2019. Bilateral trade in goods and services is valued at roughly $190 billion a year, and higher levies could hit sectors ranging from textiles to information-technology services. Trump also outlined a broader tariff agenda during a CNBC interview. He said the United States will impose an "initially small" tariff on pharmaceutical imports next week, with the rate set to escalate to 150% within a year to 18 months and ultimately to 250% as part of an effort to shift drug manufacturing back to U.S. soil. In addition, the president signaled that new tariffs on semiconductor and chip imports will be announced in the same timeframe, though he provided no figures. The Commerce Department has been conducting a Section 232 national-security review of the sector, which supplies components critical to industries from artificial intelligence to defense. The planned measures deepen the administration’s expansion of sector-specific trade barriers after this year’s steep duties on Chinese goods. Indian officials had no immediate public response to the latest threat, but the pending hike risks further straining relations between Washington and one of its key Indo-Pacific partners.