United States President Donald Trump has threatened to impose 100 per cent Tariffs on Russia’s trading partners unless a ceasefire deal is reached to end the conflict in Ukraine in the next 50 days. Moscow’s primary trade partners, aside from EU countries, are China, India, Egypt, Iran, and North Korea. Tehran and Pyongyang are under sanctions for their nuclear and ballistic missile programs.
The imposition of new tariffs would certainly impact the Chinese economy, which surpassed the global forecasts for 2025, while India is supposedly witnessing a slow but steady progressive phase in 2025.
Trump’s announcement could further create chaos and instability in the global markets, which have already been witnessing volatility since he took office in January this year.
Trump made what he called a major announcement during a meeting with NATO Secretary General Mark Rutte in the Oval Office on Monday.
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He said, “We’re very, very unhappy — I am — with Russia, and we’re going to be doing very severe tariffs if we don’t have a deal in about 50 days.”
Trump went further and accused the predecessor Democrat government led by Joe Biden of dragging the US into the conflict and inflicting immense losses of $350 billion on the US treasury.
“I’m not sure we need it, but it’s good they’re doing it... could be very useful.” A Senate vote is expected next week,” he said.
“We’ve made a deal today where we are going to be sending them weapons, and they’re going to be paying for them,” he added.
Russia has constantly condemned the West for supplying Ukraine with weapons, warning that this would potentially prolong the conflict rather than resolve it.
Meanwhile, on Monday evening, the Russian stock market soared after Trump made the remarks; its main index climbed by over 3 per cent at the end of the trade on Monday, signalling that the Russian economy, unlike Western assumptions, is in stable condition.
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