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Trump mulls tariffs on oil buyers like India, China to pressure Russia over Ukraine invasion.
President Trump is considering imposing secondary tariffs on countries still buying Russian oil, like India and China, to pressure Russia into ending its invasion of Ukraine. These tariffs could disrupt global oil markets and increase energy prices worldwide. However, they could also harm the US economy by raising consumer goods prices and increasing import costs. Despite potential economic repercussions, the sanctions aim to cut the flow of money to Russia, supporting efforts to end the conflict in Ukraine.
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