Trump Plans to Establish ‘Victory Fund’ for Ukraine Funded by Chinese Tariffs
Former U.S.
President Donald Trump is reportedly preparing a substantial financial mechanism known as the ‘Victory Fund for Ukraine,’ which is to be financed through new tariffs on Chinese imports.
According to The Telegraph, Trump has tasked Treasury Secretary Scott Bessent with presenting this initiative to European partners ahead of Ukrainian President Volodymyr Zelensky’s scheduled visit to Washington.
The plan involves imposing a 500% tariff on Chinese goods, with the collected revenue targeted at military aid for Ukraine, aiming to exert maximum economic pressure on Russian leader Vladimir Putin to bring him to the negotiating table with Trump and Zelensky.
Bessent stated that Trump’s team has already informed European allies about this proposal and encouraged them to join, emphasizing that the U.S.
supports the idea of a ‘tariff on Russian oil’ or the ‘Ukraine victory tariff’ for China.
He also noted that Ukraine and other European allies need to be ready to respond and cooperate.
While Trump previously expressed doubts about Ukraine’s military prospects, these days he shows increasing patience toward Putin, suggesting a shift in approach and advocating a change in the course of the war.
U.S.
Secretary of Defense Lloyd Austin added that Washington is prepared to support Kyiv to the fullest extent if Russia continues to ignore peace negotiations.
Recently, he called on allies to increase the procurement of U.S.
weapons for Ukraine within the framework of the PURL program.
As reported by The Telegraph, many European governments previously opposed sanctions against China over its purchases of Russian oil.
Although NATO recognizes China’s role in facilitating Russia’s war efforts, many alliance members, including the UK, refuse to define Beijing as an enemy.
The key question remains how Trump’s proposed measures will influence the global economy, especially oil prices, which could undergo significant changes as a result.