Secondary sanctions on Russia will create 'great deal of backlash', says fmr. Sec. of Commerce

Trade Negotiation Strategy - The president is using tariffs and sanctions as negotiating tools, particularly with Russia, aiming for a deal rather than permanent sanctions [5][6] - The president seeks conceptual deals or frameworks with countries, using the threat of tariffs to push negotiations forward before August 1 [7] - Trade deals typically take 12 to 18 months per country, making simultaneous deals with multiple countries challenging [7] Economic Impact and Considerations - The performance of the US economy, especially inflation, will influence the president's decisions on tariffs [8][9] - Exporters are absorbing some tariff costs, and importers are engaging in forward buying, temporarily mitigating inflation's impact [12] - The duration of tariffs is a critical factor; the longer they last, the more adverse the economic effects [13] Geopolitical Implications - Imposing tariffs that prohibit countries from doing business with others (extraterritoriality) can create resentment and backlash [2][3] - The European Union is expected to be the toughest to negotiate with, potentially leading to tariffs on European goods [13]