FX.co ★ Trump Threatens 100% Secondary Tariffs on Russia

President Donald Trump announced on Monday his intention to levy secondary tariffs of up to 100% on Russia if a peace agreement with Ukraine is not accomplished within the next 50 days. During discussions with NATO Secretary-General Mark Rutte, Trump stated, "We are prepared to implement very severe tariffs if a deal is not reached in 50 days, potentially reaching 100%." These secondary tariffs are designed to penalize any nation engaging in trade with Russia, enabling the United States to impose substantial duties on imports from those countries. Despite U.S. trade with Russia decreasing to $3.5 billion in 2024, significant indirect trade pathways persist. Trump's proposed tariff rate of 100% is considerably less than that put forth in the Senate's bipartisan bill, the Sanctioning Russia Act of 2025, which advocates for a 500% tariff on Russian imports alongside comparable secondary tariffs on nations purchasing Russian oil, gas, uranium, or petroleum. Senate Majority Leader John Thune indicated that a Senate vote might occur later this month. This proposed measure could notably impact crucial U.S. trading partners, including China, India, South Korea, and Turkey.