๐ Global Reactions to US Tariff Call๐ข
China has firmly rejected the US call for 50-100% tariffs on countries purchasing Russian oil, labeling it "unilateral bullying" and "economic coercion". Chinese Foreign Minister Wang Yi emphasized that China doesn't plot or participate in wars and believes sanctions only complicate problems .
Key Players' Stances:
- China: Refused to budge on Russian oil purchases, warning of countermeasures if pressured. China's commerce ministry vowed to safeguard its interests and accused the US of violating global trade rules.
- lndia: Continued buying Russian oil, with Russia sweetening the deal after US tariffs. India has been buying Russian crude oil at discounted prices, with savings of nearly $3-4 per barrel.
- Turkey: Emerged as the third-largest buyer of Russian oil after China and India, despite US pressure .
US Position:
- Donald Trump: Urged NATO nations to impose tariffs on Russian oil buyers and stop purchasing oil from Russia to end the Ukraine conflict.
- US Treasury Secretary:Called for unified effort to cut off Russia's revenue, emphasizing sufficient economic pressure to end the war.
Global Implications:
The US call for tariffs has sparked debate, with some arguing it could escalate tensions and others seeing it as necessary to pressure Russia. The situation remains complex, with multiple countries weighing their options .#India #russia #usa #TradeWar #Geopolitics $BTC $ETH $TWT