Trump Wants To Create A "Ukraine Victory Fund"

At the expense of duties on China.

US President Donald Trump is developing an initiative to create a "Ukraine victory fund" to be financed by new duties on imports from China. The Telegraph wrote about it on October 15.

The plan is that money from this fund will be used to buy weapons for the Ukrainian army, particularly long-range Tomahawk missiles, if European allies support the initiative.

U.S. Treasury Secretary Scott Bessent said the idea had already been presented to European counterparts ahead of Ukrainian President VLadimir Zelensky's visit to Washington on October 17. The plan calls for a 500% stake on Chinese goods, and the funds would be used to boost Kiev's military capabilities, the publication notes.

Previous proposals for sanctions against China over Russian oil purchases have been rejected by European countries unwilling to consider Beijing an enemy, The Telegraph's sources add.

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