Trump warns Russia, others of tariffs, if Ukraine deal not reached

WASHINGTON, United States

On Wednesday, US President Donald Trump said that he would impose new tariffs along with his threat of sanctions if Russia does not construct a deal to end the war in Ukraine, adding that the sanctions could also be applied to "other participating countries".

In a post on Truth Social, Trump clarified and adjusted his earlier remarks from Tuesday, indicating that he would likely implement sanctions against Russia if President Vladimir Putin remained unwilling to negotiate a resolution to the nearly three-year-long conflict.

“If we don’t make a ‘deal,’ and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States and various other participating countries,” Trump stated.

Trump’s post did not specify the nations he considered to be involved in the conflict or clarify his definition of participation.

The administration of former President Joe Biden imposed extensive sanctions on thousands of entities across Russia’s banking, defence, manufacturing, energy, technology, and other sectors following Moscow’s large-scale invasion of Ukraine in February 2022. The war has caused tens of thousands of deaths and left cities in ruins.

Russia’s deputy U.N. Ambassador Dmitry Polyanskiy commented on Trump’s remarks, stating that Moscow would need to understand what Trump considers a “deal” to end the conflict in Ukraine.

“It’s not merely the question of ending the war,” Polyanskiy told Reuters. “It’s first and foremost the question of addressing root causes of Ukrainian crisis.”

During his campaign leading up to the November 5 election, Trump repeatedly claimed that he would secure a deal between Ukraine and Russia on his first day in office, if not earlier. However, his aides have acknowledged that such an agreement could take months or even longer.

Before this month, the U.S. Treasury imposed its toughest sanctions yet on Russia’s energy revenues. These measures targeted oil and gas producers Gazprom Neft and Surgutneftegas and 183 vessels linked to the so-called dark fleet of tankers, aiming to bypass other Western trade restrictions.

Trump has leveraged the threat of tariffs to achieve objectives unrelated to trade, such as pressuring Mexico, Canada and China to curb illegal migration and reduce the flow of deadly opioid fentanyl into the United States.

These three nations are the largest trading partners of the U.S., collectively accounting for over $2.1 trillion in annual bilateral trade. In contrast, Russia ranks much lower, with U.S. imports from the country decreasing sharply—from $29.6 billion in 2021 to just $2.9 billion during the first 11 months of 2024.

In 2014, the U.S. imported $13.5 billion of petroleum products from Russia. However, this figure has dropped to zero following sanctions related to the Ukraine conflict. Similarly, imports of other major categories from a decade ago, such as semi-finished steel and pig iron, have also ceased entirely.

Despite these declines, the U.S. imports significant quantities of Russian fertilisers, valued at approximately $1.4 billion in 2023. Other imports include over $1 billion each of uranium, used for nuclear power, and precious metals such as palladium and rhodium, essential for automotive catalytic converters.

“One way to hit Russia hard would be to sanction and halt the use of Russian wood in finished wood products originating from China, Vietnam and other countries,” stated Tim Brightbill, a trade attorney at the Wiley Rein law firm in Washington.

Regarding other participants, the Biden administration has imposed sanctions on entities in North Korea and Iran for providing weapons to Russia and on Chinese entities supplying components and other goods supporting Russia’s war effort.

Trump declared he was “going to do Russia, whose Economy is failing, and President Putin, a very big FAVOR. Settle now, and STOP this ridiculous War!”

The negotiating stances of the two warring sides remain significantly divergent, and some Ukrainians are concerned they might be compelled to make substantial concessions after three years of intense combat. The conflict has evolved into a war of attrition, predominantly fought along the front lines in eastern Ukraine, resulting in a staggering number of casualties on both sides.