Updated January 22, 2025 at 15:22 PM ET
President Trump threatened to impose "high levels" of tariffs and sanctions on Russia if there is no deal to end the war in Ukraine.
Trump called out Russian President Vladimir Putin by name in the social media post, arguing that he always had a good relationship with the leader, but that it was time to settle "this ridiculous War!"
"We can do it the easy way, or the hard way – and the easy way is always better," Trump wrote on his social media website. " 'It's time to MAKE A DEAL.' NO MORE LIVES SHOULD BE LOST!!!"
During his campaign, Trump repeatedly said he could settle the war between Russia and Ukraine in one day if he was elected president. He would go on to claim that Putin would never have invaded had Trump been president.
It's unclear how much impact economic penalties would have on the Russian government. The Biden administration already imposed various sanctions on Russia's economic sectors.
Trump said in his post that he was not "looking to hurt Russia" and that he's offering Putin "a very big FAVOR," considering the number of lives lost and the impacts on Russia's economy. Russia actually sells very little to the United States. In the first 11 months of last year, the U.S. imported a little less than $3 billion worth of Russian goods. That's about one-tenth of 1% of total U.S. imports. And it's a reduction of about 90% from what the U.S. imported from Russia in 2021, the year before the invasion of Ukraine.
"Settle now, and STOP this ridiculous War! IT'S ONLY GOING TO GET WORSE," he also wrote.
Speaking to reporters on Tuesday, Trump said Ukrainian President Volodymyr Zelenskyy would like to have peace, "but it takes two to tango."
"We'll see what happens anytime they want," Trump said. "I mean, I'd like to see that end. Millions of people are being killed, and they're being killed. It's a vicious situation."
On Inauguration Day Monday, Putin congratulated Trump and said he was open to dialogue and a deal for "long-term peace."
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