In mid-July, while seated next to NATO Secretary General Mark Rutte, Trump promised to enforce “very severe” tariffs on Russia if Putin does not enter into a deal with Ukrainian President Volodymyr Zelenskyy within 50 days.
“Tariffs at about 100%, you’d call them secondary tariffs,” he had said, implying that nations who trade with Russia will see 100% tariffs slapped on them when trading with the U.S.
He then pushed the date up to within 10 days of July 29, forcing the new deadline for Friday.
But on Tuesday Trump walked back his 100% tariff threat amid tough trade talks with India and China, and said, “I never said a percentage.”
Section 1. Background. Executive Order 14066 of March 8, 2022 (Prohibiting Certain Imports and New Investments With Respect to Continued Russian Federation Efforts To Undermine the Sovereignty and Territorial Integrity of Ukraine)