According to the report, Washington's adoption of such measures will entail side effects for the United States, causing an increase in oil prices, complicating the prospects for the Trump administration to conclude trade agreements with India and China

The sweeping secondary tariffs could cut the flow of Russian oil and gas to global markets.

According to Giovanni Staunovo, commodity analyst at UBS Wealth Management, additional tariffs on Chinese goods, which already stand at 30%, would likely lift the price of…