About story:
In a surprising turn, President Trump announces the possibility of a "large-scale" trade agreement with Russia, contingent on progress in Ukraine ceasefire negotiations. Could this mark a new chapter in U.S.–Russia relations?
Detailed Story:
On May 19, 2025, President Donald Trump revealed that Russia has expressed interest in pursuing a "large-scale" trade deal with the United States. This announcement follows a two-hour phone call between Trump and Russian President Vladimir Putin, during which they discussed initiating immediate ceasefire negotiations to end the ongoing conflict in Ukraine .
Trump described the conversation as positive, emphasizing potential future trade opportunities between the U.S., Russia, and Ukraine. He communicated the call’s details to leaders including Ukrainian President Volodymyr Zelensky and key European officials. Trump also mentioned the Vatican's interest in hosting the peace talks .
However, Putin's stance remains cautious. He reiterated Russia’s conditions for a ceasefire, including Ukraine's withdrawal from the Donbas region, a commitment to not join NATO, lifting sanctions on Russia, and constitutional changes regarding neutrality and the Russian language .
Despite these developments, U.S. Vice President JD Vance emphasized that the U.S. is prepared to disengage if Putin is not genuinely committed to peace. The Kremlin had signaled in advance that it would negotiate based on Putin’s 2024 proposals. Recent talks in Turkey led to a mutual agreement to exchange prisoners of war and return to broader ceasefire discussions.
Economic Implications:
The prospect of a U.S.–Russia trade deal is significant, especially considering the current state of economic relations. Trade between the two nations has been minimal, with U.S. exports to Russia totaling only about $500 million in 2024, while Russian exports to the U.S. reached $3 billion. This is a stark contrast to the pre-war figures of $6.4 billion and $29.6 billion, respectively, in 2021 .
Russia has highlighted several potential areas of cooperation, including joint projects on rare earth elements and aluminum. President Putin proposed that resuming Russian aluminum exports to the U.S. could help lower prices there. However, experts remain skeptical about the feasibility of such cooperation, citing the unpredictable business climate in Russia and the significant capital required for developing rare earth deposits .
Conclusion:
While the idea of a large-scale U.S.–Russia trade deal is intriguing, it remains contingent on the successful negotiation of a Ukraine ceasefire. The international community watches closely as these developments unfold, recognizing the potential for a significant shift in global economic and geopolitical dynamics.
Stay tuned for more updates on this developing story.
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