US President Donald Trump is increasing pressure on G7 members to impose significantly higher tariffs on India and China for buying Russian oil, in an attempt to bring Russian dictator Vladimir Putin to the negotiating table and end the war in Ukraine.
Points of attention
- Trump's administration is urging the European Union to align with the US in implementing substantial tariffs on China and India, potentially reaching up to 100%.
- The ultimate goal of these tariffs is to halt the financing of Putin's military operations in Ukraine by cutting off revenue from Russian oil purchases, with the promise of abolishing the tariffs upon the cessation of the war.
Trump is counting on the effect of secondary sanctions
On September 12, during a video conference, the finance ministers of the Group of Seven intend to discuss Washington's proposal for a new package of measures.
As is known, the head of the White House once again called on the European Union to impose tariffs on China and India of up to 100%.
Against this backdrop, Donald Trump's team decided to increase pressure on its G7 allies.
Purchases of Russian oil by China and India fund Putin's war machine and continue the senseless killing of Ukrainians, a spokesman for the US Treasury Department has publicly complained.
According to the latter, the White House has already sent a clear signal to the European Union: if they are serious about ending the war in their own backyard, they should join the US and introduce real tariffs.
What is important to understand is that they will be abolished on the day the war ends.
The Trump team has not yet disclosed the exact figures for the planned tariffs, but according to insiders, the States are proposing a range from 50% to 100%.
