On Monday, Trump said that Russia's failure to reach a negotiated settlement with Ukraine within 50 days would lead to his administration imposing a 100% tariff rate on Russian imports as well as what he called "secondary tariffs" on countries that have continued to do business with Moscow.

Donald Trump is growing impatient with Russian President Vladimir Putin, publicly lamenting earlier this week the fact that Russia hasn't agreed to a peace deal with Ukraine.Trump also promised new tariffs if a peace deal doesn't come in 50 days.

Trump asked Ukraine's Zelensky earlier this month if he could strike Moscow and other Russian targets, the Financial Times reported.

"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.

Trump announced the pact with Indonesia, a relatively minor U.S. trading partner, as he continued to press for what he views as better terms with trading partners and ways to shrink a huge U.S. trade deficit.