Trump plans to fund Ukraine’s ‘Victory Fund’ through new tariffs on China
According to sources, former U.S.
President Donald Trump is actively pursuing the creation of a so-called ‘Victory Fund’ to support Ukraine.
The fund is expected to be financed through revenues generated from newly imposed tariffs on China.
Details revealed by journalists, referencing European Pravda and The Telegraph, indicate that Trump instructed his finance minister, Scott Bessent, to present this initiative to European colleagues before Ukrainian President Volodymyr Zelensky’s visit to Washington.
This marks a significant shift in the current American administration’s stance regarding Russia’s war against Ukraine.
The move demonstrates an intent to utilize tariff revenues for Ukraine’s support and to pressure Russia.
Additionally, Bessent stated that Trump instructed him to inform European allies about plans to introduce a ‘Ukrainian victory tariff’ for China, which involves implementing a 500% import duty on Chinese goods.
The collected funds are envisioned to bolster Ukrainian military capabilities and modernize their armed forces.
The strategy aims to exert maximum economic pressure on Putin, whose military reliance on Chinese support is well-known, in hopes of convincing him to sit at the negotiating table with Trump and Zelensky.
Washington diplomatic sources told The Telegraph that previous attempts to impose sanctions on China for purchasing Russian oil faced hurdles due to European government hesitations.
Trump also expressed confidence that India would cease buying oil from Russia, which is a primary revenue source for Vladimir Putin.
Indian Prime Minister Narendra Modi reportedly assured Trump of this move, leading the U.S.
leader to emphasize the importance of persuading China to follow suit.
Experts suggest that these initiatives could significantly impact the global economic and political landscape, as applying such measures may increase pressure on Russia and facilitate diplomatic negotiations.
With recent reports hinting at progress in Israeli-Hamas ceasefire negotiations, policymakers remain hopeful for broader diplomatic breakthroughs in Ukraine as well.