Trump to create “Ukraine victory fund” with tariffs on China - The Telegraph

Donald Trump plans to create a “victory fund in Ukraine” to be financed by duties on Chinese imports. The plan will be presented before Zelenskyy's visit to Washington.

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US President Donald Trump, October 2025.
Donald Trump plans to create a “victory fund in Ukraine” to be financed by duties on Chinese imports.

Fund to support Ukraine

President of the United States Donald Trump is preparing to create a special “Victory Fund for Ukraine, which is to become a new instrument for financing aid to Kyiv.
This is reported by the The Telegraph, citing sources in Washington.

According to the publication, the fund will be financed by new high duties on imports of Chinese goods. Part of the proceeds will be used to provide military and economic support to Ukraine.

“This fund should provide a long-term model of support for Ukraine without increasing the tax burden on Americans,” the The Telegraph one of the White House advisers.


Europe will be introduced to the plan

The plan to create a “victory fund” will be presented to European partners before President Volodymyr Zelenskyy's visit to Washington, scheduled for 16 October.

The US administration sees this move as A new format for financing defence assistance, which will reduce political dependence on the US Congress.

“The Victory Fund can become an economic union of democratic countries that will finance the Ukrainian resistance through customs policy,” the authors of the article note.


Context.

The initiative comes amid preparations for the Zelenskyy and Trump's meetings in Washington, where a number of decisions are expected to be made on supply of long-range missiles and defence investments.
Earlier, Trump said that he wanted to “make supporting Ukraine good for the American economy”.

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