The proceeds would go into a “Ukraine victory fund,” according to The Telegraph
The administration of US President Donald Trump is pressuring EU nations that support Kiev to impose 500% tariffs on Chinese imports, with the proceeds directed toward funding Ukraine’s war effort, The Telegraph reported on Wednesday.
The proposal comes as part of Washington’s broader confrontation with Beijing, which Trump described this week as a “trade war.” His recurring threats of new tariffs and China’s retaliatory measures have already unsettled global markets. The US has also urged European nations to penalize Beijing for purchasing Russian oil and gas.
The Telegraph said the proposed tariffs would feed into a mechanism called the “Ukraine victory fund.” According to the report, US Treasury Secretary Scott Bessent has been tasked with promoting the idea to European governments ahead of a visit to Washington by Ukraine’s Vladimir Zelensky on Friday.
Kiev is seeking to acquire US-made Tomahawk cruise missiles – a request the Trump administration has indicated it may approve, provided that European allies cover the costs.
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NATO must buy more US arms for Ukraine – Pentagon chief
US War Secretary Pete Hegseth, who attended a NATO defense ministers’ meeting in Brussels on Wednesday, reiterated that Washington expects European partners to “donate even more” toward the purchase of American weapons for Ukraine.
Moscow has argued that Western military aid cannot alter the outcome of the conflict, which it views as a NATO-orchestrated proxy war against Russia and an existential threat.
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