Former President Donald Trump has called on the European Union to impose tariffs of up to 100% on goods imported from China and India, aiming to increase economic pressure on Russia over its ongoing war in Ukraine. This request comes as China and India stand as the largest purchasers of Russian oil, which directly finances the conflict.
Trump"s demand follows his earlier decision to impose a 50% tariff on Indian goods, citing New Delhi"s purchases of Russian oil. As reported by the Center for Research on Energy and Clean Air, China paid approximately $7.2 billion for fossil fuels from Russia in July, while India’s expenditure was around $3.6 billion. The former president"s proposals highlight the significant role that oil revenue plays in enabling Russia"s military actions.
The White House has also encouraged European allies to consider potential secondary sanctions targeting all countries that import oil from Russia. This push for sanctions is part of a broader strategy to isolate Russia economically and reduce its ability to sustain military operations in Ukraine.
As tensions continue to escalate, the ramifications of such tariffs could significantly impact global trade, particularly for China and India, which rely heavily on energy imports. The situation remains dynamic, with ongoing discussions among European leaders regarding their next steps in addressing the geopolitical crisis.
