Donald Trump Threatens Secondary Tariffs on Russian Oil Buyers…

Donald Trump threatens secondary tariffs on Russian oil if the Ukraine conflict escalates. With India’s and China’s reliance on Russian oil, Trump’s sanctions could disrupt their economic ties. This move reflects escalating tensions and a strategic pivot in U.S. foreign policy concerning the war.

Former President Donald Trump has threatened to impose secondary tariffs on Russian oil buyers, specifically targeting nations like India and China that have increasingly relied on Russian oil since the Ukraine conflict. During a phone interview with NBC News, Trump indicated that if a ceasefire is not achieved soon, he would take significant action, mentioning the possibility of tariffs on “all oil coming out of Russia.”

Trump expressed his anger over Russian President Vladimir Putin’s recent comments suggesting potential new leadership in Ukraine, which Trump fears will delay any peace negotiations. He stated, “New leadership in Ukraine means you’re not going to have a deal for a long time, right?” This reflects his concerns about the ongoing conflict and the broader implications of Russian actions.

He elaborated that in the event of continued hostilities that he attributes to Russia, he would enforce hefty tariffs, potentially ranging from 25% to as high as 50% on Russian oil. Trump highlighted, “If you buy oil from Russia, you can’t do business in the United States,” signaling a serious economic impact on nations engaging with Russian oil suppliers.

Countries like India and China, which have become primary purchasers of Russian oil since the onset of the war, may face difficult decisions amid Trump’s proposed measures. This scenario raises alarms about possible instability in the global energy market if Russia’s oil exports face significant disruptions due to new tariffs.

The recent tariff threat compounds the complications arising from Trump’s earlier reciprocal tariff proposals and may pressure these nations to choose between their reliance on Russian oil and maintaining access to the U.S. market. In conjunction with these developments, the U.S. revealed a ceasefire agreement in the Black Sea, yet the Kremlin insists on lifting sanctions on certain financial institutions before fully adhering to any truce.

In summary, Donald Trump’s recent threats to implement secondary tariffs on Russian oil buyers underscore escalating tensions surrounding the Ukraine conflict. Countries like India and China might find themselves navigating complex choices between continuing their dealings with Russian oil and securing their economic relations with the United States. The broader ramifications of such tariffs could markedly affect the global energy market and the dynamics of international trade amidst ongoing geopolitical strife.

Original Source: www.hindustantimes.com