Trump’s Potential Secondary Tariffs on Russia Would Clobber China, India

The two Asian nations, among the largest importers of Russian oil, would be mainly affected by what two U.S. senators call a ’real executive hammer.’
Trump’s Potential Secondary Tariffs on Russia Would Clobber China, India
An oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia, on June 4, 2023. Alexander Manzyuk/Reuters
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President Donald Trump said on July 14 that he would impose “very severe” secondary tariffs on Russia if President Vladimir Putin does not agree to a cease-fire with Ukraine in 50 days.

“We’re going to be doing secondary tariffs if we don’t have a deal in 50 days,” Trump said. “It’s very simple, and they'll be at 100 percent.”

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."