President Trump issued a strong warning Monday, threatening to impose 100% secondary tariffs on Russia within 50 days unless a peace agreement with Ukraine is reached. These tariffs would apply to any country trading with Russia, potentially affecting key partners like China, India, South Korea, and Turkey. The move contrasts with a more aggressive Senate-backed proposal calling for 500% tariffs on Russian imports. Trump also urged the Federal Reserve to slash interest rates to 1%, arguing it would cut federal borrowing costs and boost growth, despite economists’ warnings about inflation and financial instability.
In energy markets, WTI crude fell below $67 per barrel after Trump refrained from imposing fresh sanctions on Russian oil, disappointing investors. Broader tariff threats on the EU and Mexico, including a 30% duty, weighed on risk sentiment and raised concerns over softer demand. Meanwhile, the US placed a 17% tariff on fresh Mexican tomatoes after failed negotiations, impacting a key agricultural trade route.
Take a look at today's market analysis for more insights.