U.S. President Donald Trump on Monday gave Moscow a 50-day deadline to reach a settlement agreement regarding the conflict in Ukraine, warning that Washington would impose tariffs on Russia and its trading partners if no agreement is reached.

During a meeting at the White House with NATO Secretary General Mark Rutte, Trump stated, “We are very upset with the Russian side, and we will impose very strict tariffs if an agreement is not reached within 50 days. We will impose tariffs at nearly 100%. These could be considered secondary,” according to Russia Today Arabic.

Referring to the peace agreements related to Ukraine, he added, “I thought we would reach a deal two months ago.”

On July 10, Trump promised to make a serious statement about Russia on July 14 in an interview with NBC News. He had also announced on July 8 that he was “seriously considering” passing a bill proposed in April by bipartisan senators, led by Lindsey Graham and Democrat Richard Blumenthal.

The bill includes secondary sanctions targeting Russia’s trading partners, as well as tariffs of up to 500% on imports from countries that continue purchasing oil, gas, uranium, and other goods from Russia.

Russian President Vladimir Putin previously stated that the West’s strategy to contain and weaken Russia is long-term but ineffective. He noted that the sanctions have dealt a serious blow to the global economy and accused the West of seeking to destroy the lives of millions of people.