Trump threatens Russia with 100% ‘secondary’ tariffs if no deal on Ukraine
In meeting with Nato chief, US president also vows to send more weapons to the bloc in support of Kyiv.
Speaking alongside Nato Secretary General Mark Rutte in the Oval Office, Trump took direct aim at Putin as he also announced plans to boost arms sales to the transatlantic alliance in support of Ukraine.
“I’m disappointed in President Putin, because I thought we would have had a deal two months ago, but it doesn’t seem to get there,” Trump said, “So based on that, we’re going to be doing secondary tariffs if we don’t have a deal in 50 days.”
Secondary tariffs are duties imposed on third countries that do business with a sanctioned nation and are designed to isolate that nation economically by targeting its trade partners.
Direct bilateral trade between the US and Russia is minimal because of sanctions imposed in 2022 after Moscow’s invasion of Ukraine. US-Russia trade last year amounted to only US$3.5 billion, compared to US$35 billion in 2021.
If Trump’s proposed import duties are enforced, countries such as China and India, the biggest buyers of Russian oil, could face significant effects.