Trump's Trade War Strategy: China in the Crosshairs?
President Donald Trump considers imposing retaliatory tariffs on China for buying Russian oil, despite escalating tensions and an ongoing trade deal with China. While India has faced increased tariffs, China might be targeted if no progress is made on resolving the conflict in Ukraine.
In a recent statement, President Donald Trump indicated he doesn't immediately see the need to impose retaliatory tariffs on China, despite their purchase of Russian oil. However, this stance could change in the coming weeks as geopolitical tensions simmer around the ongoing war in Ukraine.
China and India have emerged as the top consumers of Russian oil, even as Trump imposed a 25% tariff on Indian goods for their persistent imports. Despite this, similar actions against China remain off the table, amidst ongoing negotiations over a potential trade deal aimed at easing economic tensions.
Chinese President Xi Jinping's economy faces potential challenges if Trump decides to ramp up sanctions related to Russian alliances. The outcome of these international dealings could significantly impact global trade dynamics, with China potentially being the largest target for punitive measures aside from Russia itself.
(With inputs from agencies.)
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