Global Trade under pressure as Trump declares Tariffs for Peace, not a Trade War

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US President Donald Trump has proposed introducing “tariffs at about 100%” on Russia’s trade partners if the Kremlin doesn’t reach a deal to end its invasion of Ukraine within 50 days. The punitive measures will be implemented as “secondary tariffs,” targeting countries and entities that buy Russia’s exports. Trump’s normal tariffs typically slap a specific country with a levy, but secondary tariffs impose the duty on countries and entities that buy Russia’s exports.

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According to data from the International Trade Centre, in 2024, Russia’s biggest export was oil, and its biggest buyers were China, India, and Turkey. These nations would effectively face a 100% tariff if they don’t shift their buying patterns. “Tariffs at about 100%” will be imposed on countries and entities that continue to trade with Russia.

It’s refreshing to think of tariffs not as a weapon in a trade war, but being used for peace. This move aims to weaken Russia’s economy and pressure it to reach a deal. However, it poses a risk of drawing other countries’ ire, particularly those heavily reliant on Russian exports.

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