Days after India tariffs, US cautions against sanctioning China over Russian oil
In an interview with Fox News, Rubio was asked if plans to sanction Europe for buying Russian oil were on the table. Responding to the question, the US official spoke about implications to secondary sanctions, and citing China's example said, "Let's say you were to go after the oil sales of...Russian oil to China, China just refines that oil, which is sold into the global marketplace and anyone who is buying that oil would be paying more for it or if it doesn't exist, would have to find an alternative source for it."
Marco Rubio further spoke about a Senate bill proposing to sanction countries like India and China for buying Russian oil, and said the US did hear from "a number of European countries" regarding some concerns they may have had about it.
Rubio's latest remarks on risks to sanctioning China bring focus back on criticism of India being singled out for getting additional tariffs over buying Russian oil.
Earlier, when Donald Trump was asked by only India was being targeted over its trade with Russia, he had said, "It's only been 8 hours. So let's see what happens. You're going to see a lot more...You're going to see so much secondary sanctions.'
After Trump doubled India's duties to 50% earlier this month, New Delhi had issued a strong response, pointing out that the US was targeting India for "actions that several other countries are also taking".
However, after his high-stakes meeting with Russian President Vladimir Putin in Alaska, Trump seemed to have softened his stance on additional tariffs against countries doing business with Russia.
"Well, because of what happened today, I think I don't have to think about that (tariffs)," Trump told Fox News' Sean Hannity in an interview after the meeting.
Notably, Trump recently extended the tariff deadline for China, which was set to end on August 12, by another 90 days. Presently, US charges 30% tariffs on Chinese imports, including a 10% base rate and 20% in fentanyl-related tariffs imposed by Washington in February and March.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
4 minutes ago
- Mint
Sensex soars over 1,000 points, investors earn ₹5 lakh crore within 5 mins; why is Indian stock market rising? EXPLAINED
Stock market today: The Indian stock market opened on a strong note on Monday, August 18, with investors cheering signs of easing global headwinds. Hopes of a possible end to the Russia-Ukraine conflict, indications from US President Donald Trump that he may reconsider secondary tariffs on India, and S&P's upgrade of India's credit rating together lifted sentiment and fueled risk appetite. The Sensex opened at 81,315.79 against its previous close of 80,597.66 and surged over 1,000 points, or 1.3 per cent, to an intraday high of 81,619.59. (This is a developing story. Please check back for fresh updates.)


Mint
6 minutes ago
- Mint
Gold price today: MCX gold rate trades flat below ₹1 lakh after Trump-Putin meet; silver price gains
Gold prices on Multi Commodity Exchange of India (MCX) traded flat on Monday, tracking stable global billion prices, amid signs of easing geopolitical tensions and expectations of an end to the Russia-Ukraine war. MCX gold prices opened higher at ₹ 99,960 per 10 grams as against its previous close of ₹ 99,838 level. MCX silver prices opened 1,13,951 per kg as compared to its previous close of ₹ 1,13,943 level. At 9:15 AM, MCX gold price was trading flat at ₹ 99,834 per 10 grams, while MCX silver price was up 0.07% at ₹ 1,14,025 per kg. In the international market, gold prices rose after hitting a two-week low, supported by lower US Treasury yields. Spot gold price gained 0.3% to $3,345.64 per ounce, after hitting its lowest level since August 1. US gold futures for December delivery rose 0.3% to $3,391.80. Spot silver rose 0.3% to $38.08 per ounce. US President Donald Trump held a meeting with Russian President Vladimir Putin in Alaska on August 15, aimed at ending the war in Ukraine, decreasing the safe-haven appeal for the yellow metal. 'Gold prices stayed close to two-week lows, as prospects of easing geopolitical tensions dulled the metal's safe-haven appeal. Markets will be closely watching Federal Reserve Chair Jerome Powell's upcoming remarks at the Jackson Hole Symposium, along with the minutes from the Fed's latest meeting, amid growing expectations for a September interest-rate cut,' said Jigar Trivedi, Senior Research Analyst at Reliance Securities. Investors now await Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy and European leaders later today to discuss a peace deal with Russia. Jigar Trivedi expects MCX gold rate for October futures to stay range bound in today's trading session. 'MCX gold may face resistance at ₹ 100,000 per 10 grams level, while support for the yellow metal is seen at ₹ 99,500 level,' Trivedi said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.


India.com
6 minutes ago
- India.com
Russia-US-Ukraine Peace Talks Live: Zelensky arrives in US for Talks with Donald Trump, desires to end the war...
New Delhi: Ukrainian President Volodymyr Zelensky on Sunday arrived in Washington DC on Sunday (local time) to meet US President Donald Trump. According to the reports, Zelensky said that he desires to end the war with Russia 'quickly and reliably.' Taking to X he said, 'I have already arrived in Washington, tomorrow I am meeting with President Trump. Tomorrow we are also speaking with European leaders. I am grateful to @POTUS for the invitation. We all share a strong desire to end this war quickly and reliably. And peace must be lasting. Not like it was years ago, when Ukraine was forced to give up Crimea and part of our East—part of Donbas—and Putin simply used it as a springboard for a new attack. Or when Ukraine was given so called 'security guarantees' in 1994, but they didn't work. Of course, Crimea should not have been given up then, just as Ukrainians did not give up Kyiv, Odesa, or Kharkiv after 2022. Ukrainians are fighting for their land, for their independence. Now, our soldiers have successes in Donetsk and Sumy regions. I am confident that we will defend Ukraine, effectively guarantee security, and that our people will always be grateful to President Trump, everyone in America, and every partner and ally for their support and invaluable assistance. Russia must end this war, which it itself started. And I hope that our joint strength with America, with our European friends, will force Russia into a real peace. Thank you!' Russia-US-Ukraine Peace Talks Live: