Donald Trump has reportedly urged the European Union to impose 100% tariffs on goods from China and India to pressure Russian President Vladimir Putin regarding the ongoing war in Ukraine. This request was made during a high-level meeting in Washington D.C. between senior U.S. and EU officials. The meeting was focused on exploring fresh strategies to increase economic pressure on Russia.
Trump's proposal came as both the U.S. and EU are weighing options to escalate economic pressure on Russia. A U.S. official indicated that Washington is seeking a coordinated effort with Brussels. According to sources, the U.S. is willing to mirror any tariffs imposed by the EU.
Trump's rationale is that China and India are major purchasers of Russian oil, which helps to keep Russia's economy afloat despite sanctions and other economic pressures. By imposing tariffs, the goal is to cut off a key revenue source for Russia, thereby diminishing its capacity to continue its military actions. Trump reportedly stated that imposing dramatic tariffs and maintaining them until China and India cease buying Russian oil is the most obvious approach.
The EU has been relying more on sanctions than tariffs to exert economic pressure on Russia. Trump has criticized China and India for supporting Russia's economy through their continued oil purchases. While he increased tariffs on India earlier in the year, he has not yet implemented the most punitive measures.
Some officials suggest that the EU is preparing a new round of sanctions on Russia, potentially including secondary sanctions targeting nations that aid Moscow in evading existing penalties. There are questions regarding the European Parliament's willingness to intensify economic pressure through tariffs.
The proposal to impose tariffs has sparked discussions about the potential impact on trade relations and the global economy. China is already encouraging the Association of Southeast Asian Nations (ASEAN) to upgrade their free trade agreement. This is viewed as a move to diversify its exports amidst existing U.S. tariffs.
