💨 Abstract

Donald Trump's deadline for imposing new tariffs on countries buying Russian oil approached. His envoy, Steve Witkoff, will travel to Russia this Wednesday. Analysts warn that this move could backfire, increasing consumer prices and inflation in the U.S., as China and India are major trading partners of the U.S. and significant buyers of Russian oil. Despite Trump's threats, there's speculation that he might back down due to the economic impact on the U.S.

Courtesy: WTOP Staff