Russia launches drone attacks on Odesa and Kharkiv, Ukraine officials say
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Yahoo
27 minutes ago
- Yahoo
Trump's Tariff Threat Targets China and India -- But Could Blow Up U.S. Strategy Instead
President Donald Trump just tossed another curveball into the global trade arena and this time, it's aimed at anyone still doing business with Russia. Trump floated the idea of slapping 100% tariffs on Russia unless a peace deal is reached within 50 days. But that's not where the real pressure lies. According to the U.S. ambassador to NATO, Matt Whitaker, the move would actually hit countries like India and China buying Russian oil. Markets didn't blink suggesting most investors aren't pricing it in just yet. But trade analysts caution that these secondary tariffs could be a nightmare to enforce and risk backfiring, especially as China and India double down on their energy ties with Moscow. Warning! GuruFocus has detected 4 Warning Signs with NVDA. India, which has steadily increased its imports of discounted Russian crude since 2022, may be walking a tightrope. Officials in New Delhi reportedly believe the threat is more about pressuring China, but they're not ruling out collateral damage. With a U.S.-India trade deal on the table, New Delhi is growing increasingly wary of what it sees as Washington's erratic behavior. Prime Minister Modi's team, while still engaging, may push back harder if these threats escalate. Meanwhile, India's External Affairs Minister just wrapped up a high-profile meeting with Xi Jinping in Beijing a first in over five years signaling a potential reset in Sino-Indian ties at a time when both nations are frustrated with U.S. unpredictability. What makes this even more intriguing is the broader backdrop. The U.S. is simultaneously softening its stance with China greenlighting Nvidia (NASDAQ:NVDA) to resume sales of AI chips and signaling a possible TrumpXi summit later this year. That could be short-lived. Any disruption to China's Russian oil supply might reignite trade tensions just as relations were stabilizing. As energy security becomes the new geopolitical fault line, Trump's tariff threat may end up tightening the BRICS alliance rather than isolating Moscow. For investors, this may be less about oil prices and more about watching how quickly emerging economies realign in response. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
an hour ago
- Forbes
U.S. Senate Weighs Sanctions Bill As Russia Stalls Peace Talks
US Senators Lindsey Graham (R) and Richard Blumenthal speak on Mykhailivska Square during a press ... More conference in Kyiv on May 30, 2025, amid the Russian invasion in Ukraine. (Photo by Tetiana DZHAFAROVA / AFP) (Photo by TETIANA DZHAFAROVA/AFP via Getty Images) South Carolina Senator Lindsey Graham and Connecticut Senator Richard Blumenthal met with European and Ukrainian officials last week to discuss Russia's ongoing invasion of Ukraine. During the session, the two senators briefed their counterparts on their new joint bill, which, if passed, would impose stiff new sanctions on the Russian Federation. For five months, the United States has attempted to broker a ceasefire agreement between Russia and Ukraine. But Russian leaders have continued to launch missile and drone strikes on Ukraine, which retaliates in kind on strategic targets. As such, in an interview with CBS' 'Face the Nation' on July 13, Graham and Blumenthal stated that the new sanctions bill on Russia would impose a '500% tariff on imports from countries that purchase Russian uranium, gas, and oil,' as well as other products. Currently, several countries in South America, Africa, and Asia continue to conduct business with Russia. But if the new bill is passed, the Sanctioning Russia Act of 2025 would put pressure on countries that continue to conduct business with Russia. It would force them to rethink their trade relations with the Russian Federation. By extension, fewer finances would mean less purchasing power for Russia to finance its ongoing war in Ukraine. The proposed legislation currently has 84 cosponsors, indicating it has strong bipartisan support. Several Republicans and Democrats in the House of Representatives, including Speaker Mike Johnson, also welcomed the motion. 'There's a tremendous amount of bipartisan support [for this bill] here in the Senate,' said Senate Majority Leader John Thune in an interview reported by The Hill. 'I hope that we can get it on the floor before the August recess.' It appears that the White House is also in support of the sanctions proposal. During an Oval Office meeting with NATO Secretary-General Mark Rutte on July 14, President Donald Trump stated that he was 'very, very unhappy with Russia,' but that the U.S. would impose new financial penalties on the Russian Federation if a ceasefire agreement is not reached within 50 days. How the sanctions bill will proceed, however, is unclear. Throughout the attempted negotiation process since February 2025, the United States has threatened a series of ultimatums if Russia did not reach a ceasefire. American officials gave the Russian Federation several two-week deadlines to achieve peace with Ukraine. But as the proposals were introduced throughout the spring, the attempts at peace were largely ignored. For example, in March, the United States met with Ukrainian and Russian officials to discuss a 30-day ceasefire on Ukraine's energy infrastructure. Reuters, the Kyiv Independent, and U.S. News and World Report then published reports stating that Russia had violated the energy infrastructure ceasefire at least 30 times. Then, in April, the Russian Federation proposed a three-day ceasefire during the Easter and Passover holidays. The temporary truce was violated shortly afterward when the Russians launched drone and missile strikes throughout Ukraine. Despite violating the peace attempts in March and April, the United States did not respond to its ultimatums issued to Russia. Instead, the U.S. offered a new set of ultimatums as it hoped to broker a ceasefire agreement between Russia and Ukraine. It is therefore unclear whether the sanctions bill will be introduced if Russia fails to uphold a ceasefire agreement with Ukraine within the next 50 days. Nonetheless, Republicans and Democrats have both stated that they are ready to continue supporting Ukraine during Russia's ongoing invasion. Many senators are also anxiously awaiting the introduction of the new sanctions bill. In their view, stiffer penalties will be the only way to force Russia to end its war. In short, current developments suggest that a ceasefire between Ukraine and Russia is unlikely to occur. Therefore, it remains to be seen how the Senate will proceed with its new sanctions bill to force Russia to stop its war in Ukraine.
Washington Post
an hour ago
- Washington Post
Trump breaks with Putin. But will it last?
Read more from our columnists: Max Boot: Putin took Trump for granted. He's going to pay for his mistake. David Ignatius: In squeezing Putin, Trump 'escalates to de-escalate' Subscribe to The Washington Post here.
