US President Donald Trump on Monday said that he would like to sign new trade deals with Russia. He envisioned the opportunity at a meeting with the UK’s Prime Minister Keir Starmer during his visit to Scotland. The two world leaders discussed trade and solutions to Gaza, and also spoke about China and Sweden’s tariffs. While Starmer mostly stressed humanitarian aid to Gaza, Trump spoke about deals and trade wars.

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Trump Says US Ready to Seek New Trade Deals With Russia, Places a Major Condition

Trump revealed that the US is ready to boost trade with Russia, and the condition is that the Putin administration must withdraw from the Ukraine war and declare peace. The President explained that Russia has lots of rare earth minerals which US firms can use. Several countries are now looking towards rare earth metals as the supply is limited, with huge competition.

“I envision that a lot of trade with Russia. They have a lot of valuable things. When you talk about rare earth, serious rare earth, right? They have just about every form you can have,” said Trump during his Turnberry, Scotland visit. However, he stressed that it can be achieved only if Russia stops the war against Ukraine.

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In addition, Trump said that he would impose secondary sanctions on Russia if a ceasefire in Ukraine is not reached. The secondary sanctions would be imposed in two weeks if the Putin administration does not fall in line. “I’m going to make a new deadline of about 10 or 12 days from today. There’s no reason we’re waiting,” he said.

Russia invaded Ukraine in February 2022, and the US imposed sanctions on its economy. Even after three years, the Putin administration has yet to end the war. The supply of crude oil to Europe is hit due to the sanctions, and Russia is selling it through other countries.