00:00Go ahead, John.
00:01Thanks a lot, Caroline.
00:02The President on Monday announced that if there's not compliance with Russia within 50 days,
00:08there would be increased tariffs.
00:11Can you explain how that works?
00:12First of all, what happens if Russia doesn't end its war with Ukraine in 50 days?
00:19Well, in 50 days, as the President clearly laid out,
00:22if there is not a ceasefire agreement or a peace deal within that time frame,
00:27if Russia refuses to legitimately agree to a ceasefire,
00:31then they will face very steep tariffs, and they will also face secondary sanctions.
00:36So countries that are purchasing oil from Russia will be sanctioned as well,
00:42and, of course, that will do deep damage to Russia's economy.
00:45And I would just add that the President wants this war to end with a diplomatic solution.
00:52He's been pushing for it.
00:53But this administration has spent many hours and a lot of time trying to solve this war very far away.
01:00But the President wants to stop the killing, and he wants to save lives.
01:04Reagan, go ahead.
01:05As far as the first part of what you were saying, Caroline, the first part,
01:07I have two questions for you.
01:08It's just about, if I may, it's just about the tariffs, the first part.
01:11I get the secondary tariffs.
01:13But there was only $3 billion worth of trade between the U.S. and Russia in 2024.
01:19It's expected to be far less this particular year.
01:23On April 2nd, both you and the Treasury Secretary said it's not necessary to apply any tariffs on Russia.
01:30You said that because of the lack of trade, it precludes, that was the word you used, any need for tariffs.
01:37Why now, and why do you think that that would make them cave and come to some sort of peace agreement as it relates to Ukraine?
01:44$3 billion is still a lot of money, John, and it's not just tariffs.
01:47It's the secondary sanctions as well that will be implemented in 50 days.
01:51Reagan.
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