NewKerala.com

Key Points

China has condemned US tariff threats, calling them ineffective in resolving disputes. Trump announced steep penalties on India for buying Russian energy, escalating trade tensions. The US set an August 7 deadline for Russia to reach a Ukraine ceasefire or face secondary sanctions. India, negotiating trade terms with Washington, now faces new economic pressure.

Key Points: China Warns No Winners in US Tariff War Over Russian Oil

  • China vows to defend energy security amid US tariff threats
  • Trump imposes 25% tariff on India over Russian oil purchases
  • Secondary tariffs set at 100% if Russia misses Ukraine ceasefire
  • Trade tensions escalate as US pressures allies to isolate Russia
2 min read

No winners in tariff war, coercion and pressure won't achieve anything: China

China criticizes US tariff threats on Russian oil buyers, warns coercion won't solve trade disputes as Trump targets India with new penalties.

"There are no winners in a tariff war, and coercion and pressure will not solve problems. – Chinese Foreign Ministry spokesperson Guo Jiakun"

Beijing, July 30

Reacting strongly to the US threat of facing higher tariffs if China continues to purchase Russian oil, Beijing on Wednesday said that there are no winners in a tariff war, and coercion and pressure will not solve problems.

"China will take reasonable energy security measures based on its national interests. There are no winners in a tariff war, and coercion and pressure will not solve problems. China will firmly safeguard its sovereignty, security, and development interests," Chinese Foreign Ministry spokesperson Guo Jiakun said during a regular media briefing.

China's reaction came around the same time US President Donald Trump threatened on Wednesday to impose a 25 per cent tariff on India’s exports, starting Friday.

"India will be paying a tariff of 25 per cent" starting on August 1, Trump posted on Truth Social. He said that India would also face an additional tariff penalty for buying Russian energy.

Trump had set the penalty, known as secondary tariffs, across the board at 100 per cent for all who are buying Russian energy if Moscow did not reach a ceasefire with Ukraine.

He shortened the deadline for that to 10 days from Tuesday, setting it at August 7.

The threat to India could be a negotiating tactic to force New Delhi to reach an agreement after Trump and his officials, like Commerce Secretary Howard Lutnick, had spoken optimistically that India would be among the first to make a deal.

India was among the first countries to start trade negotiations with Washington on tariffs, and Trump had repeatedly said that an agreement was imminent, most recently last week.

Trump said in his post: "Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World".

He accused India of having "the most strenuous and obnoxious non-monetary Trade Barriers of any Country".

He added: "They have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE".

"ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST," he wrote.

- IANS

Share this article:

Reader Comments

S
Shreya B
While I don't support Russia's actions in Ukraine, India must prioritize its own energy security. Western countries have been buying Russian oil through back channels too - this hypocrisy is unbelievable! 😤
A
Aman W
Trump's threats show how unreliable America is as a partner. One day they call us friends, next day they impose tariffs. Time to strengthen ties with other Asian economies and reduce dependence on the West.
P
Priya S
The government should negotiate strongly but also consider diversifying our energy sources. Maybe this is the push we needed to invest more in renewable energy and reduce foreign dependence altogether. 🌞
K
Karan T
Respectfully, while I stand with India's right to make independent decisions, we must also consider the humanitarian aspect of the Ukraine war. There should be a balanced approach to foreign policy.
N
Nisha Z
America forgets they buy oil from Saudi Arabia despite human rights violations there. This selective morality is frustrating! India should stand its ground and call out this double standard. 💯
V
Vikram M
The timing is suspicious - right when India is becoming an economic powerhouse. Feels like another attempt to contain our growth. We survived sanctions in 1998, we'll survive this too! Jai Hind! ✊

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50