Trump's tariff threat: 25-50% levy on Russian oil exports
The US President indicated in a telephone interview with NBC News that he would impose tariffs of 25% or 50% that would affect countries buying Russian oil.
US President Donald Trump has become angry at Russian President Vladimir Putin for not being able to reach any agreement on a ceasefire between Russia and Ukraine. However, he has also targeted Ukrainian President Volodymyr Zelensky over his stance. On Sunday, Trump not only expressed disappointment over Putin's behavior while criticizing it, but also threatened that if the Russian leader does not agree to a ceasefire within a month, he will impose a secondary tariff i.e. an additional tariff of 25 to 50 percent on Moscow's oil exports.
Secondary tariff on all oil coming from Russia
The US President indicated in a telephone interview with media that he would impose a 25% or 50% tariff that would affect countries buying Russian oil. He also threatened to bomb Iran and did not rule out the use of force in Greenland. Trump said, "If Russia and we cannot come to an agreement to stop the bloodshed in Ukraine, and if I think it is Russia's fault, which may not be the case, but if I think it is Russia's fault, I am going to put a secondary tariff on all oil coming from Russia. What this will do is that if you buy oil from Russia, you cannot do business in the United States. There will be a 25% tariff on all oil, a 25 to 50-point tariff on all oil."
What are the analysts saying?
Now the question arises that if Russia does not agree to the Ukraine ceasefire agreement and Trump imposes a tariff of 25 to 50 percent on Russian oil exports, which countries may suffer losses. In response to this, analysts and officials say that if Donald Trump imposes a 25-50% tariff against countries buying Russian oil, then China and India may be most affected by it.
US imposed strict economic sanctions on Russia
In fact, after the war between Ukraine and Russia broke out in 2022, many Western countries including the US imposed strict economic sanctions on Russia. Buying its oil was also banned, but apart from India and China, some other countries continued to buy oil from Russia. In such a situation, imposing secondary tariffs on direct buyers by the US may not only reduce Putin's access to oil revenues, but countries that violate it may also have to face economic burden. Despite not being included in cautious about violating it, as it fears secondary taritts. international sanctions against Russia, China. For example, some Chinese banks have reduced transactions with Russian companies for fear of being banned from the international banking system.
