President Donald Trump suggested he would impose increased tariffs on additional countries buying energy from Russia — including China — after saying earlier Tuesday that he would raise levies on Indian exports within 24 hours.

"The key channel by which secondary tariffs on buyers of Russian energy could impact the global economy would be through the level of energy prices," says Kieran Tompkins from the consultancy Capital Economics. If the tariffs work, they will cut the flow of Russian oil and gas to global markets.

India and China pushed back against the White House’s threats to impose secondary tariffs on countries buying Russian oil. New Delhi and Beijing are among the biggest importers of energy from Moscow. US President Donald Trump has promised 100% duties on imports from any country that buys oil from Russia.