Trump Pushes G7 For Tariffs On India, China Over Russian Oil
The U.S. Treasury has called on G7 nations and the EU to impose higher tariffs on goods from India and China because of their continued purchases of Russian crude oil. The aim is to pressure Moscow to end its war in Ukraine.
Tariff Levels Discussed
Figures floated in discussions range between 50% to 100% tariffs for India and China. These proposals are part of efforts to force a reduction in crude oil imports from Russia.
Challenges With The Proposal
Officials in the European Union say such steep tariffs are unlikely, citing risks such as retaliation from China, disruption to trade, and economic fallout. The distinction between tariffs and sanctions adds to legal complexity.
India-U.S. Trade Tensions
Already, India faces a combined 50% tariff on some of its goods from the United States—25% reciprocal tariffs plus an additional 25% linked to its Russian oil purchases. The situation has strained trade negotiations.
