US President Donald Trump said on Friday that he does not need to immediately consider imposing retaliatory tariffs on countries like China for buying Russian oil, but may have to do so "in two or three weeks," UNN reports with reference to Reuters.
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Trump threatened sanctions against Moscow and additional sanctions for countries buying Chinese oil if steps are not taken to end the war in Ukraine. China and India are two of the largest buyers of Russian oil.
Last week, the US president imposed an additional 25% tariff on Indian goods, citing India's oil imports.
However, Trump did not take similar action against China.
Sean Hannity of Fox News asked him if he was considering similar measures against Beijing after he and Kremlin chief Vladimir Putin failed to reach an agreement to end or suspend Moscow's war in Ukraine.
Well, given what happened today, I don't think I need to think about it. I might have to think about it in two or three weeks, but right now we don't need to think about it. I think, you know, the meeting went very well.
The slowing economy of Chinese President Xi Jinping will suffer if Trump fulfills his promise to tighten Russia-related sanctions and tariffs, the publication writes.
Xi Jinping and Trump are working on a trade deal that could ease tensions - and import duties - between the world's two largest economies. But China could become a prime target, besides Russia, if Trump escalates punitive measures, the publication notes.