What impact could Trump’s proposed 500 percent tariffs have on countries still importing Russian oil and gas? Correspondent Toni Waterman explains. #Trump
00:00Something else that you mentioned very quickly, Tony, as well, was the 500 percent tariffs.
00:05That obviously has implications not just on Russia, but I guess on American allies that are still trading with Moscow.
00:11Yeah. Yeah, you're exactly right.
00:13So this is on any country around the world that would be importing Russian oil, gas and uranium.
00:19So the big ones are going to be China, India, Brazil and even some EU countries.
00:24But in terms of allies, India would be the biggest one here.
00:28And they have been buying a lot of Russian oil since the start of this war.
00:34Russia has heavily discounted this oil.
00:37India is a massive economy, a growing economy.
00:41Access to cheap oil is quite important to fueling its domestic growth.
00:46And at this point, nearly 40 percent of India's crude imports come from Russia.
00:52So it is particularly concerned with any sort of tariff that could be placed on it,
00:57especially since India, as well as Brazil and China and many of these other countries are facing tariffs from Trump separately,
01:05whether those are separate tariffs on things like car imports or aluminum and steel or whether it's this blanket tariff.
01:13And in addition to that, for a place like Brazil, India and China, President Trump earlier this week threatened an additional 10 percent tariff on BRICS nations,
01:24saying that they align themselves with anti-American policy, particularly as it pertains to the U.S. dollar.
01:31The big question is, how is this going to be enforced?
01:35At the very start of Trump's second term in office, he disbanded a task force whose sole responsibility was to monitor and enforce sanctions against Russia and Russian oligarchs.
01:47Without this type of task force in place, it's really hard to understand how they would be able to track all of these shipments and then enforce this 500 percent sanction.
01:57But this is an idea that Trump is really starting to warm to at this point after many months of praising Russian President Vladimir Putin and showing a lot of skepticism towards Ukraine.
