On Monday, US President Donald Trump announced that the US will introduce "second-hand" tariffs of 100 percent against Russia, unless the war in Ukraine comes to an end within 50 days.
The threat marks a, typical for Trump, different way of using trade, according to Robert Bergqvist. For the American president, tariffs, and threats of tariffs, can serve both economic and political purposes.
This confirms, once again, that Trump uses tariffs as a multi-tool, he says.
Changed foot
Previously, Trump has promised Putin various economic benefits in exchange for an end to the war. That door seems to be closed now, according to Bergqvist.
Now Trump is going from holding out an economic carrot to Putin to bringing out the whip, he says.
Mattias Persson, chief economist at Swedbank, does not believe that the tariffs themselves are particularly effective. He points out that trade between Russia and the US is "extremely limited" - not least due to sanctions against Russia.
Rather, it is a shift in tone towards both Russia and Ukraine, says Persson and continues:
Economically, I think it has very little effect, but the signal value is that Trump has changed foot, and rather seems to support Ukraine.
Weakened economy
Robert Bergqvist emphasizes that previous sanctions against Russia have not always had the desired effect, since there have been alternative trade routes - for example through exports to China. On the other hand, he notes, the war has weakened the Russian economy.
There may be a hope that this type of tool and threat will have greater effects this time.
Both Robert Bergqvist and Mattias Persson welcome this type of marking against Russia.
What I would also like to see is that the US raises its voice further against, for example, a country like China, says Robert Bergqvist.
