Threatening Russia with Tariffs

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President Trump is threatening Russia with taxes, tariffs and sanctions if Russian President Putin does not come to the table to negotiate an end to the war in Ukraine. 

Russia already is under substantial sanctions that have been imposed by the United States and other major economies since its invasion of Ukraine.

On the campaign trail, Mr. Trump said he would end the war in his first day in office. Russian President Putin has shown little interest in negotiating a cease fire.

Mr. Trump issued a warning to the Russian president in a post on Truth Social Tuesday. “I’m going to do Russia, whose Economy is failing, and President Putin, a very big FAVOR. Settle now, and STOP this ridiculous War! IT’S ONLY GOING TO GET WORSE. 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.”

Fulsome Sanctions

Mr. Trump’s choice for Treasury Secretary, Scott Bessent, told members of the Senate Finance Committee at his confirmation hearing last week that he believes Washington needs to impose “fulsome” sanctions on Russia’s energy sector. President Biden only began to target Russia oil and gas sector at the end of his administration. Bilateral trade between the United States and Russia is minimal, given the size of both economies. But Russia still runs a trade surplus against the United States. As of October 2024, US exports to Russia were valued as $52.1 million while imports were $314 million, leaving the United States with a $262 million trade deficit.

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