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Trump Urges Tariffs on China, Russia Over Ukraine Oil Sales

by Priya Shah – Business Editor

China Voices Concerns as US​ Escalates Pressure Over⁤ Russian Oil​ trade

BEIJINGChina has cautioned against “unilateral actions” impacting its interests, as ​the United States increases pressure on Western allies to levy⁤ substantial tariffs on China and India for continuing to purchase Russian ‌oil, ​a move Washington ‌alleges supports Russia‘s invasion ⁤of Ukraine. The escalating tensions come amid a ⁣renewed ‍push from former US President Donald ‍trump for stronger economic measures against both Russia and countries perceived⁤ to ​be enabling its⁣ war ‍effort.

The dispute centers on ‍the continued flow of revenue ​to Russia thru oil ⁢sales, despite international ⁢sanctions. The US ⁣argues that China ⁣and India’s purchases allow Russia to ‌circumvent the financial impact of those sanctions, prolonging the conflict in Ukraine. This situation presents a complex geopolitical challenge, ⁢perhaps reshaping global energy markets and trade relationships. The outcome will‌ likely influence the duration and intensity of ⁣the Ukraine​ war, as well as the ‌broader balance of power between⁢ the US, China, and russia.

On Saturday,⁤ Trump sent a letter to NATO members, urging them to ​cease buying Russian oil and⁣ collectively impose significant sanctions on Russia to hasten an​ end​ to the war. He also proposed tariffs ranging ⁣from 50 to 100 percent ⁢on China, asserting that ‍Beijing ⁣wields considerable ⁣influence over​ Moscow.

Trump publicly stated his willingness to implement “major sanctions on Russia when all Nato nations have agreed,and ‍started,to do the same thing,and when all Nato nations stop buying oil from Russia.”‍ He ‍further claimed, “China ⁢has a strong control, and even grip, ‌over Russia,” and that substantial tariffs “will​ break that grip.”

Beyond the call ⁤for NATO action,‍ Trump has also‌ threatened to impose secondary sanctions on countries -‌ specifically naming‍ China and India – ‌that ​continue to buy ⁢Russian⁢ oil.⁢ This move would penalize entities doing business with those nations, potentially disrupting global ‌trade flows and escalating⁤ economic tensions.

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