He says they will be put in place if an agreement between Russia and Ukraine fails.
President Donald Trump has proposed to impose secondary tariffs on Russian oil if the country is unable to come to a peace agreement with Ukraine.
The majority of tariffs imposed against countries are primary sanctions, which impose restrictions on businesses interacting economically with a target country. Secondary tariffs impose total bans and sometimes penalties against any foreign businesses or governments making deals with the target nation.
“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, on all oil coming out of Russia,” President Trump said.
“That would be that if you buy oil from Russia, you can’t do business in the United States,” the president said in a phone interview. “There will be a 25 percent tariff on all oil, a 25- to 50-point tariff on all oil.”
As the Lord Leads, Pray with Us…
- For President Trump to be led by the Lord as he seeks a peace agreement between Russia and Ukraine.
- For wisdom for the president, secretary of state, national security advisor, and diplomats engaged in discussions to end the war.
Sources: MSN, Newsweek
