In a bold statement made on March 30, 2023, U.S. President Donald Trump announced his intention to impose secondary tariffs ranging from 25% to 50% on all Russian oil if he perceives that Moscow is obstructing efforts to resolve the ongoing conflict in Ukraine. Trump indicated that these tariffs could be implemented within a month if a ceasefire is not achieved.
Trump expressed his anger towards Russian President Vladimir Putin, particularly in response to Putin's remarks questioning the credibility of Ukrainian President Volodymyr Zelenskiy. In an interview with NBC News, Trump conveyed his frustration, stating, “I’m angry and pissed off.” He emphasized the importance of addressing the situation in Ukraine, which he has labeled a "ridiculous war" since taking office on January 20, 2023.
During the same interview, Trump revealed that he intends to have a conversation with Putin in the upcoming week. As part of his 2024 presidential campaign, he has consistently highlighted his commitment to ending the conflict in Ukraine. Trump has gone so far as to suggest the need for new elections in Ukraine, controversially labeling Zelenskiy as a dictator.
In a related development, Putin recently proposed that Ukraine could be placed under a form of temporary administration. This move would facilitate new elections and the signing of crucial accords, which could ultimately lead to the removal of Zelenskiy from power. Trump responded to this proposal by emphasizing, “If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault ... I am going to put secondary tariffs on oil.”
Trump further elaborated on the potential economic impact of the tariffs, stating, “That would be, that if you buy oil from Russia, you can’t do business in the United States.” He reiterated that without a ceasefire agreement, the tariffs on Russian oil could be enacted within a month, which could significantly affect the global oil market.
Despite the tension surrounding the Ukraine conflict, Trump remarked that he maintains “a very good relationship” with Putin. He suggested that any anger he feels towards the Russian leader could dissipate quickly if Putin makes the right choices regarding the conflict in Ukraine.
This developing situation highlights the complexities of international relations and the ongoing geopolitical tensions stemming from the war in Ukraine. As the situation unfolds, the potential for secondary tariffs on Russian oil could have far-reaching implications for both the U.S. economy and global energy markets.
