The Indian prime minister has said his country "is ready" to react to President Donald Trump's additional 25 percent levy on goods entering the U.S.

In an executive order, Trump says "I find that the Government of India is currently directly or indirectly importing Russian Federation oil" and due to those purchases, imports of Indian goods into the United States "shall be subject to an additional ... rate of duty of 25%."

Trump on Monday said he would be "substantially raising" tariffs on India, after imposing a 25% tariff rate against the nation last week