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On the question of imposing more tariffs on China, US Vice President JD Vance said that taking such a step can be more difficult and harmful.
In an interview to Fox News, Vance said that the idea of imposing tariffs on China is going on, but no firm decision has been taken yet.
Vance said that relations with China are not only limited to the issue of oil, but affect many more cases, hence the matter is more difficult.
The US has currently put 30% tariff on China. Its deadline is ending on 12 August.
China bought oil worth ₹ 83 thousand crore in July
The US Vice President’s statement came at a time when China bought more than $ 10 billion oil from Russia in July. However, the total purchase so far this year is 7.7% less than 2024.
China defended the decision to buy oil from Russia, saying that it is China’s legal right to cooperate with any country. He will ensure energy security according to his national interests.
Trump’s senior advisor Peter Navarro had earlier said that China would be imposed more tariffs, it is less likely. He warned that doing so could also harm America.
America imposed extra tariff on India
US President Trump announced to impose 25% extra tariffs on India by arguing to buy oil from Russia last week. After this, the total tariff on India increased to 50%. The extra tariff will be applicable from August 27.
India strongly criticized this decision and called it wrong. India’s Foreign Ministry said that its oil import is completely fixed according to the market and it is necessary to meet the energy needs of its 1.4 billion people.
Last month, Trump also threatened to impose 100% tariff on Russia. Trump said in July that if Moscow does not deal with Ukraine within 50 days, he would apply 100% tariffs on Russia. Apart from this, secondary tariffs will also be imposed on countries buying oil from Russia.
500% tariff proposal on BRICS countries pending
There is a proposal pending in the US Senate that it is said that whatever countries or companies will buy oil from Russia, a huge tariff of up to 500% will be imposed on them. Its purpose is to increase economic pressure on Russia so that it shows softening in Ukraine war and faces difficulties in selling oil through its biggest earnings.
This proposal has so far received the support of more than 80 senators out of 100, so the possibility of it is very high. It is expected that it will be voted in September. If this passes, it will become a law after the President’s signature and it will be very expensive to buy oil from Russia, which can lead to a major decline in Russia’s income.
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