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Market Chatter: Trump to Impose Additional Secondary Tariffs on Russian oil if Moscow Hinders Ukraine Deal
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Market Chatter: Trump to Impose Additional Secondary Tariffs on Russian oil if Moscow Hinders Ukraine Deal
Mar 31, 2025 4:00 AM

06:40 AM EDT, 03/31/2025 (MT Newswires) -- US President Donald Trump hinted he would adopt secondary tariffs of 25% to 50% on buyers of Russian oil if he feels Moscow is not cooperating with his efforts to end the Ukraine war, NBC News reported, citing a phone call with the president.

"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 - which it might not be - but if I think it was Russia's fault, I am going to put secondary tariffs on oil, on all oil coming out of Russia," Trump reportedly told NBC News.

The president also said that if someone is buying oil from Russia, they cannot do business in the US, the news outlet added.

Trump and Russian President Vladimir Putin plan to speak again this week, the US president reportedly told NBC.

The White House did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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