Trump ready to slap 100% tariffs on buyers of Russian oil

U.S. President Donald Trump will impose 100% tariffs on countries that continue to buy Russian oil, Republican Senator Lindsey Graham said in an interview with Fox News.

China, India and Brazil — which together account for about 80% of Russia’s discounted crude purchases — would have to “choose between the American economy and Russia,” Graham said.

The senator added that Trump had warned Russian President Vladimir Putin of “very severe” duties if a peace deal on Ukraine is not reached within 50 days. The White House, he said, is prepared to extend the 100% tariffs to Russia’s trading partners.

Late last month Graham introduced a bill that would slap 500% duties on imports from countries that buy Russian goods but do not assist Ukraine.