Trump "spare" China - He does not impose tariffs on Beijing for buying Russian oil
US President Donald Trump said on Wednesday that he does not currently need to consider imposing punitive tariffs on countries like China for buying Russian oil, but he left open the possibility that this could happen "within two or three weeks."
Trump has threatened measures against Moscow and secondary sanctions on countries that continue to buy oil from the Kremlin unless steps are taken to end the war in Ukraine. China and India are the two largest buyers of Russian oil.
Last week, the US president imposed an additional 25% tariff on Indian goods due to continued oil imports from Moscow. However, he has not taken similar action against China.
When asked if he was considering measures against Beijing, following the failure to reach an agreement with Russian President Vladimir Putin to stop the war, Trump replied:
"Considering what happened today, I don't think it's necessary to think about it now. Maybe I'll consider it in two or three weeks, but not now. I think the meeting went very well."
The Chinese economy, which has been slowing recently, could suffer further blows if Trump keeps his promise to increase sanctions and tariffs related to Russia.
Chinese President Xi Jinping and Trump are currently working to reach a trade deal aimed at reducing tensions and import tariffs between the world's two largest economies. However, if the US leader takes stronger punitive measures, China could become the biggest target after Russia.
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