US President Donald Trump has proposed that the European Union impose tariffs of up to 100% on China and India. This request is part of discussions aimed at increasing economic pressure on Russia and encouraging President Vladimir Putin to end the ongoing war in Ukraine. The proposal was revealed during a recent meeting between US and EU officials, as reported by the Financial Times.
This development occurs amidst escalating military actions in Ukraine, including a significant increase in aerial bombardments over the weekend, during which Ukraine reported the use of over 800 drones and missiles by Russian forces. Notably, a missile strike hit Ukraine’s primary government building in Kyiv, and a recent attack in the Donbas region resulted in the deaths of more than 20 civilians.
Trump has stated that he plans to discuss the situation with Putin soon. He has previously expressed dissatisfaction with the ongoing conflict and has indicated potential for imposing harsher sanctions on Russia, although specific measures have yet to be taken despite prior threats.
The backdrop to Trump’s latest request involves a recent summit that did not yield a peace agreement between the involved parties, as well as a commitment from the US Treasury Secretary indicating a desire for stronger European support in efforts to escalate economic penalties against Russia.
Additionally, Trump mentioned that the US and India are engaged in ongoing negotiations to address trade barriers, anticipating a productive dialogue with Indian Prime Minister Narendra Modi in the near future.
China and India are noted as significant purchasers of Russian oil, which provides essential financial support for the Russian economy. The US recently implemented a 50% tariff on Indian goods, which included a penalty for transactions involving Russia. As the EU considers the potential tariffs on China and India, this marks a shift in strategy from focusing on sanctions exclusively to contemplating trade measures.
Source: https://www.bbc.com/news/articles/c80gvz3l7n2o?at_medium=RSS&at_campaign=rss