U.S. President Donald Trump announced on Wednesday his intent to impose additional tariffs on Russia if President Vladimir Putin does not negotiate an end to the ongoing war in Ukraine. Trump, in a post to his Truth Social platform, let it be known that such economic action may be extended to “other countries that are participating” in roughly three years of war.
“If we are not making deal and now, I have nothing, but my other option is to impose high level of taxes, tariffs, and sanctions on every single merchandise imported to the United States and other participating government by Russia, “Trump said.
Although Trump did not name any countries he thinks of as being participants in the war, his remarks point towards his continued view that he is in a position to strike a deal for the outcome of the war. During his presidential campaign, Trump repeatedly stated that he would secure a resolution on his first day in office, though aides have acknowledged that achieving such a deal may take months or longer.
Rising Sanctions and Ongoing Conflict
The Biden administration has already rolled out broad sanctions on Russia, which apply to thousands of entities in its banking, energy, defense and technology spheres. Following Moscow’s full-scale invasion of Ukraine in February 2022, such efforts have sought to disrupt the effectiveness of sustaining the war, and both tens of thousands of people have died and immense damage has been caused.
Russia’s Deputy U.N. Ambassador Dmitry Polyanskiy expressed doubt of Trump’s declaration, stressing the need to, by addressing the fundamental causes of the Ukrainian crisis instead of cutting short armed confrontation, find a solution.
Meanwhile, the U.S. Treasury recently implemented its most stringent sanctions yet, targeting Russian energy companies like Gazprom Neft and Surgutneftegas, as well as 183 tankers involved in circumventing Western trade restrictions.
Trade Implications of Tariff Threats
Trump has a long history of employing tariffs as a bargaining tool for the achievement of non-trade goals. He has used those in Mexico, China, and all over the world to deal with symptoms of illegal immigration to the opioid crisis. However, the impact on Russia could be limited. U.S. imports from Russia have disappeared from $29.6 billion in 2021 to just $2.9 billion in 2024, almost entirely a result of sanctions on Russian oil and other exports.
Nonetheless, Trump maintains that his tariff ultimatums may be leveraged to encourage Moscow to settle the war. However, with entrenched battle lines in eastern Ukraine and massive casualties on both sides, the prospects of a quick resolution remain bleak.
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