Great idea.This is nice but Russia afraid of the price cap and is already offering long-term oil contracts at steep discounts, in anticipation of the cap.
I wonder if the west could do same against china export if there is a TW war
Why wait for the TW war? Biden can do it now and he will not need to worry about the China tariff anymore. Cap the import from China at 75% and keep the 25% tariff.
Wait, why stop at 75%? Cap it at 30% and raise the tariff to 50%. That'll take care of inflation and budget deficit. It's a win-win for Biden and Americans. Who cares about what China will do.