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Yahoo
15-07-2025
- Business
- Yahoo
Russia blows off latest Trump threat
Russian leaders responded flippantly Tuesday to the Trump administration's threat of 'severe' tariffs if Moscow doesn't quickly come to a peace agreement with Ukraine. 'Trump issued a theatrical ultimatum to the Kremlin. The world shuddered, expecting the consequences,' Dmitry Medvedev, deputy chair of the Security Council of the Russian Federation, wrote in a post on the social platform X. 'Belligerent Europe was disappointed. Russia didn't care,' Medvedev, who also previously served as president and prime minister of Russia, added. President Trump has upped his criticism of Russian President Vladimir Putin in recent days, saying Monday he was 'very unhappy' with the leader's continued onslaught in Kyiv. Trump has sought to pressure Russia to come back to the negotiating table through the threat of potential sanctions — including a 100 percent tariff on countries that trade with Moscow — and by arming Ukraine. 'We're very, very unhappy with [Russia], and we're going to be doing very severe tariffs if we don't have a deal in about 50 days,' the president said during a meeting with NATO Secretary-General Mark Rutte at the White House. 'I will tell you that Ukraine wants to do something,' Trump said later, arguing the Eastern European conflict has been one of the few he has not been able to help settle. 'It's all talk, and then missiles go into Kyiv and kill 60 people,' he continued. 'It's got to stop. It's got to stop.' Sens. Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.) took a victory lap Monday after Trump threatened tougher sanctions on Russia. The duo cosponsored legislation earlier this year to impose 'primary' and 'secondary' penalties on Moscow if it does not agree to long-lasting peace. Investors, however, have also largely brushed off the ultimatum. The Moscow Stock Exchange grew by 2.7 percent as of Tuesday morning, signaling a lack of concern that Trump will follow through on his threat. The nations likely to be hit hardest by an increase in tariffs are China, Brazil and India, which rely heavily on Russian oil. Graham lauded Trump's moves as the administration's commitment to defund Putin's 'war machine.' 'If you keep buying cheap Russian oil and gas to fund Putin's war machine, President Trump is going to put a 100 percent tariff on all of your products coming in the United States if you don't change your behavior,' the South Carolina senator said during a Monday appearance on Fox News. 'And I'm going to make a prediction, they will,' he added. 'They're going to go to Putin and say, enough, get to the table.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
15-07-2025
- Business
- The Hill
Russia blows off latest Trump threat
Russian leaders responded flippantly Tuesday to the Trump administration's threat of 'severe' tariffs if Moscow doesn't quickly come to a peace agreement with Ukraine. 'Trump issued a theatrical ultimatum to the Kremlin. The world shuddered, expecting the consequences,' Dmitry Medvedev, deputy chair of the Security Council of the Russian Federation, wrote in a post on social platform X. 'Belligerent Europe was disappointed. Russia didn't care,' Medvedev, who also previously served as president and prime minister of Russia, added. President Trump has upped his criticism of Russian President Vladimir Putin in recent days, saying Monday that he was 'very unhappy' with the leader's continued onslaught in Kyiv. Trump has sought to pressure Russia to come back to the negotiating table through the threat of potential sanctions — including a 100 percent tariff on countries that trade with Moscow — and by arming Ukraine. 'We're very, very unhappy with [Russia], and we're going to be doing very severe tariffs if we don't have a deal in about 50 days,' the president said during a meeting with NATO Secretary General Mark Rutte at the White House. 'I will tell you that Ukraine wants to do something,' Trump said later, arguing that the Eastern European conflict has been one of the few he has not been able to help settle. 'It's all talk and then missiles go into Kyiv and kill 60 people,' he continued. 'It's got to stop. It's got to stop.' Sens. Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.) took a victory lap Monday after Trump threatened tougher sanctions on Russia. The duo co-sponsored legislation earlier this year to impose 'primary' and 'secondary' penalties on Moscow if it does not agree to long lasting peace. Investors, however, have also largely brushed off the ultimatum. The Moscow Stock Exchange grew by 2.7 percent as of Tuesday morning, signaling a lack of concern that Trump will follow through on his threat. The nations likely to be hit hardest by an increase in tariffs are China, Brazil and India, which rely heavily on Russian oil. Graham lauded Trump's moves as the administration's commitment to defund Putin's 'war machine.' 'If you keep buying cheap Russian oil and gas to fund Putin's war machine, President Trump is going to put a 100 percent tariff on all of your products coming in the United States if you don't change your behavior,' the South Carolina senator said during a Monday appearance on Fox News. 'And I'm going to make a prediction, they will,' he added. 'They're going to go to Putin and say, enough, get to the table.'
CNBC
15-07-2025
- Business
- CNBC
Russia shrugs off Trump's threat of 'very severe tariffs'
President Donald Trump may have expected a Russian shudder of fear to greet his threat of "very severe tariffs" on the country if it didn't agree a ceasefire in Ukraine. Instead, his comments appear to have prompted a collective public shrug. Calling Trump's statements "very serious," Kremlin spokesman Dmitry Peskov said on Tuesday that Russia needs "time to analyze" them. But investors in the Russian capital who had been gearing up for tougher measures instead embraced a 50-day grace period on tariffs set by Trump on Monday and the Moscow Stock Exchange was up by 2.7% after it opened Tuesday morning. Oil prices also fell by more than $1 after the announcement, hinting that investors don't think Trump will follow through on his threat to impose the tariffs. Trump "did not announce any immediate anti-Russian measures or the confiscation of illegally blocked Russian assets," Leonid Slutsky, a prominent nationalist politician, said on Telegram Tuesday, adding that the president was trying to balance Western support for Kyiv while avoiding a confrontation with the Kremlin. Trump announced the levies along with the shipment of new weapons to Ukraine during a meeting with NATO Secretary General Mark Rutte at the White House on Monday. His comments came as a bipartisan bill co-sponsored by Sen. Lindsey Graham (R-S.C.) made its way through Congress. If passed, it would seek to impose 500% tariffs on countries that buy Russian oil and gas. Praising Trump's announcement, Graham and his bill's co-sponsor, Sen. Richard Blumenthal (D-Conn) said in a statement that "the ultimate hammer to bring about the end of this war will be tariffs against countries, like China, India and Brazil, that prop up Putin's war machine by purchasing cheap Russian oil and gas." However, Konstantin Kosachev, the Deputy Chairman of the Russian Federation Council, the upper house of the country's parliament, said Graham's bill made "no sense." In 50 days, "how much can change both on the battlefield and in the mood of those in power both in the U.S. and in NATO?" he added. And former Russian President Dmitry Medvedev, a hardliner who frequently issues over-the-top threats, called Trump's threat a "theatrical ultimatum" in a post on X. "We're going to be doing very severe tariffs if we don't have a deal in 50 days, tariffs at about 100%," Trump said, without providing further details. After the announcement, a White House official said Trump's threat of 100% tariffs was referring to Russian goods, as well as secondary sanctions on other countries that buy its exports. The president's comments signal a marked shift in tone over his Russian counterpart Vladimir Putin, for whom he has long shown admiration. "I've known him for a long time. We've always gotten along well," Trump said back in March. Many Western countries have have cut most of their own financial ties to Moscow during since Russia launched a full-scale invasion of its smaller neighbor, triggering the first major land war in Europe since World War II. Still, buyers of Russia's crude oil like China and India have continued financing Moscow's war chest with hundreds of billions of dollars through business with the world's third-largest oil producer. "It's about tariffs on countries like India and China that are buying their oil," Matt Whitaker, the U.S. ambassador to NATO told reporters Monday after Trump's announcement. "And it really is going to, I think, dramatically impact the Russian economy." Trump's threats of secondary tariffs are "never going to go anywhere" as long as he is unwilling to impose costs on Moscow directly, Keir Giles, a senior fellow at the London-based Chatham House think tank, told NBC News Monday. The tariffs also risk upending delicate China-U.S. trade talks, according to Liu Baocheng at Beijing's University of International Business and Economics. The "unilateral imposition of punitive trade creating new and unnecessary complications," Baocheng said, adding that the 100% secondary tariffs intended to pressure Moscow could instead "severely backfire by undermining global economic stability and fragmenting international cooperation." Most concerning, Baocheng added, was that the threat comes at a delicate juncture in U.S.-China trade relations, where secondary tariffs on Chinese companies or sectors that import Russian goods "would seriously damage the fragile momentum of dialogue." Trump's tariff agenda has also raised the stakes for India, which has been negotiating a trade deal with Washington to see tariffs on goods from India drop below 20%. India's External Affairs Minister S. Jaishankar told reporters Tuesday that his country had "been in touch" with Graham over its concerns and interests on energy and security. Elsewhere, Europe's chief negotiator Maroš Šefčovič told reporters in Brussels on Monday that a 30% tariff on European goods would have a "huge impact on trade." "It will be almost impossible to continue trading as we are used to in a transatlantic relationship," Šefčovič said.
NBC News
15-07-2025
- Business
- NBC News
Russia unrattled after Trump's threat of 'very severe tariffs'
President Donald Trump may have expected a Russian shudder of fear to greet his threat of ' very severe tariffs ' on the country if it didn't agree a ceasefire in Ukraine. Instead, his comments appear to have prompted a collective public shrug. Calling Trump's statements 'very serious,' Kremlin spokesman Dmitry Peskov said on Tuesday that Russia needs 'time to analyze' them. But investors in the Russian capital who had been gearing up for tougher measures instead embraced a 50-day grace period on tariffs set by Trump on Monday and the Moscow Stock Exchange was up by 2.7% after it opened Tuesday morning. Oil prices also fell by more than $1 after the announcement, hinting that investors don't think Trump will follow through on his threat to impose the tariffs. Trump 'did not announce any immediate anti-Russian measures or the confiscation of illegally blocked Russian assets,' Leonid Slutsky, a prominent nationalist politician, said on Telegram Tuesday, adding that the president was trying to balance Western support for Kyiv while avoiding a confrontation with the Kremlin. Trump announced the levies along with the shipment of new weapons to Ukraine during a meeting with NATO Secretary General Mark Rutte at the White House on Monday. His comments came as a bipartisan bill co-sponsored by Sen. Lindsey Graham (R-S.C.) made its way through Congress. If passed, it would seek to impose 500% tariffs on countries that buy Russian oil and gas. Praising Trump's announcement, Graham and his bill's co-sponsor, Sen. Richard Blumenthal (D-Conn) said in a statement that 'the ultimate hammer to bring about the end of this war will be tariffs against countries, like China, India and Brazil, that prop up Putin's war machine by purchasing cheap Russian oil and gas.' However, Konstantin Kosachev, the Deputy Chairman of the Russian Federation Council, the upper house of the country's parliament, said Graham's bill made 'no sense.' In 50 days, 'how much can change both on the battlefield and in the mood of those in power both in the U.S. and in NATO?' he added. And former Russian President Dmitry Medvedev, a hardliner who frequently issues over-the-top threats, called Trump's threat a 'theatrical ultimatum' in a post on X. 'We're going to be doing very severe tariffs if we don't have a deal in 50 days, tariffs at about 100%,' Trump said, without providing further details. After the announcement, a White House official said Trump's threat of 100% tariffs was referring to Russian goods, as well as secondary sanctions on other countries that buy its exports. The president's comments signal a marked shift in tone over his Russian counterpart Vladimir Putin, for whom he has long shown admiration. 'I've known him for a long time. We've always gotten along well,' Trump said back in March. Many Western countries have have cut most of their own financial ties to Moscow during since Russia launched a full-scale invasion of its smaller neighbor, triggering the first major land war in Europe since World War II. Still, buyers of Russia's crude oil like China and India have continued financing Moscow's war chest with hundreds of billions of dollars through business with the world's third-largest oil producer. 'It's about tariffs on countries like India and China that are buying their oil,' Matt Whitaker, the U.S. ambassador to NATO told reporters Monday after Trump's announcement. 'And it really is going to, I think, dramatically impact the Russian economy.' Trump's threats of secondary tariffs are 'never going to go anywhere' as long as he is unwilling to impose costs on Moscow directly, Keir Giles, a senior fellow at the London-based Chatham House think tank, told NBC News Monday. The tariffs also risk upending delicate China-U.S. trade talks, according to Liu Baocheng at Beijing's University of International Business and Economics. The 'unilateral imposition of punitive trade creating new and unnecessary complications,' Baocheng said, adding that the 100% secondary tariffs intended to pressure Moscow could instead 'severely backfire by undermining global economic stability and fragmenting international cooperation.' Most concerning, Baocheng added, was that the threat comes at a delicate juncture in U.S.-China trade relations, where secondary tariffs on Chinese companies or sectors that import Russian goods 'would seriously damage the fragile momentum of dialogue.' Trump's tariff agenda has also raised the stakes for India, which has been negotiating a trade deal with Washington to see tariffs on goods from India drop below 20%. India's External Affairs Minister S. Jaishankar told reporters Tuesday that his country had 'been in touch' with Graham over its concerns and interests on energy and security. Elsewhere, Europe's chief negotiator Maroš Šefčovič told reporters in Brussels on Monday that a 30% tariff on European goods would have a 'huge impact on trade.'
Time Magazine
15-07-2025
- Business
- Time Magazine
TIME Homepage
Both of the warring sides in Ukraine had reason to feel relieved on Monday when President Donald Trump announced his latest plan for peace. For the Ukrainians, the proposal included an influx of desperately needed American weapons, which will help shield civilians from Russian bombs and rearm the Ukrainian military. For the Russians, the plan left plenty of room to maneuver, and did not impose nearly as much pain as many in Moscow had feared. Indeed, the only punishment built into Trump's proposal would impose tariffs of 100% against Russia and its trading partners if the Kremlin does not accept a ceasefire soon. But those tariffs would only kick in after 50 days without a peace deal, leaving Russia enough time to continue its summer offensive in Ukraine, aiming to conquer four regions before the autumn rains make it more difficult for the invasion to move forward. If they succeed, Vladimir Putin would be able to claim victory rather than negotiating on Trump's terms. 'Putin will not negotiate as a loser,' one of his longtime associates tells TIME by phone from Moscow. 'He knows that winners don't get punished, and if he wins, all of this' — the sanctions, the tariffs — 'will go away.' Even if the Russians fail over the next 50 days to conquer the territory Putin wants, the threatened tariffs of 100% would not be likely to dissuade him from pushing ahead into the fall. Trump's own allies on Capitol Hill had urged the White House to set tariffs at 500% on Russia and any country that buys its oil. The proposal, championed by Senator Lindsey Graham, was meant to stop India and China from financing Russia's military through the oil trade. The idea had broad bipartisan support, but last week the White House urged lawmakers to hold off, according to a source close to Senate leadership. 'Trump doesn't want it,' the source said, asking not to be named in order discuss the sensitive deliberations. What Trump wanted became clear on Monday, when he presented a watered down version of Graham's proposal. Known as the Sanctioning Russia Act of 2025, the bill had the support of more than 80 Senators, and Graham expressed confidence last week that it would soon pass. But on Monday, Trump seemed unsure whether the sanctions bill should move forward toward a vote. 'I'm not sure we need it,' he said. The sense of relief was clear on the Moscow Stock Exchange, as traders absorbed Trump's latest threat. The main Russian stock index jumped by 2.7% and the ruble strengthened against the dollar on Monday. Apart from the 50-day grace period, Russian investors appeared to appreciate the fact that the White House tends to back away from its tariff threats as often as it makes them. 'Trump performed below market expectations,' one financial analyst in Moscow told Reuters, adding that the U.S. president 'likes to postpone and extend such deadlines.' Trump's proposal may also have a deeper weakness—a failure to account for how much Putin has already wagered in Ukraine, and how much pain he is willing to suffer to avoid defeat. Three and a half years into the full-scale war, he has already sacrificed hundreds of thousands of Russian soldiers, and Trump said on Monday that more than 5,000 of them continue to die every day. No sitting president in the world has faced more sanctions and international isolation than Putin has over the war in Ukraine. The International Criminal Court indicted him for war crimes in 2022, making it difficult for him to travel without the fear of arrest and extradition to the Hague. 'He's too deep into it now,' says Putin's associate in Moscow. 'He can't give up, and he's far from feeling like he is about to lose. On the contrary, he feels like he has the upper hand.' Despite the plodding pace of the Russian advances and the enormous losses they have faced, Putin's troops have crept forward in recent months toward his goal of taking all of Ukraine's eastern regions. Nothing in the proposal Trump announced on Monday is likely to force Putin to abandon that objective.
