On the surface, Trump’s big announcement on Russia is a nothingburger.

US Imports from Russia

Trump to Russia: 100% ‘secondary’ tariffs if no deal on Ukraine

Please consider Trump to Russia: 100% ‘secondary’ tariffs if no deal on Ukraine

Voicing sharp frustration with Russian President Vladimir Putin, US President Donald Trump on Monday threatened to impose 100 per cent “secondary” tariffs on any country doing business with Russia if a Ukraine ceasefire isn’t secured within 50 days.

Speaking alongside Nato Secretary General Mark Rutte in the Oval Office, Trump took direct aim at Putin as he also announced plans to boost arms sales to the transatlantic alliance in support of Ukraine.

“I’m disappointed in President Putin, because I thought we would have had a deal two months ago, but it doesn’t seem to get there,” Trump said “So based on that, we’re going to be doing secondary tariffs if we don’t have a deal in 50 days.”

Trump Says Putin Talks Are ‘Pleasant’ but Meaningless

NBC reports Trump Says Putin Talks Are ‘Pleasant’ but Meaningless

Trump told reporters at the White House that he has had friendly conversations with Putin but has become frustrated that Russia continued to attack Ukraine.

“I speak to him a lot about getting this thing done, and I always hang up say, ‘Well, that was a nice phone call,’” Trump said. “And then missiles launched into Kyiv or some other city, and I said, ‘strange.’”

“And after that happens three or four times, you say, ‘The talk doesn’t mean anything,’” Trump added, going on to note that his conversations with Putin are “always very pleasant.”

100 Percent Tariffs

The Wall Street Journal reports US Imports from Russia Jan-Nov 2024

The U.S. will impose tariffs up to 100% on Russia if that country does not agree to halt hostilities in Ukraine within 50 days, President Trump said Monday. The levies will be in the form of “secondary tariffs,” Trump said, though he didn’t elaborate. Secondary tariffs typically refer to levies put on a country for its trade with a U.S. adversary, such as Trump’s threat earlier this year to tariff goods from nations that import Venezuelan oil.

The U.S. will impose “very severe tariffs if we don’t have a deal in 50 days,” Trump said during an Oval Office meeting with NATO Secretary General Mark Rutte, adding that the tariffs would be “at about 100%.” Trump didn’t indicate what legal authority he would use to impose the secondary tariffs, but a bipartisan bill is moving through Congress that would give the president authority to impose tariffs up to 500% on Russia. During the meeting, Trump said he didn’t need the legislation to impose tariffs on Russia, but welcomed the lawmakers’ efforts.

A Big Tariff Nothingburger?

The sum total of US imports from Russia is ~3 billion for 2024.

This is supposed to make Putin quake?

However, the threat appears to be “secondary tariffs” for which Trump currently has no authority to make, but he doesn’t care.

A “secondary” tariff, would target other nations that do business with Russia.

China would be hit but it has a convenient response. If China shut down rare earth exports, it would send Trump reeling.

Congress would be damn stupid to give Trump more tariff authority, but who knows?

When do we anoint trump King of the world? I have been waiting for the announcement.

Nothingburger or not, both sides have to be getting tired of this war. As soon as that happens, war will end, and on terms that won’t please anyone.

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