In a post on Truth Social, Trump modified comments he made on Tuesday that he would likely impose sanctions against Russia if President Vladimir Putin refused to negotiate an end to the nearly three-year conflict.
"If we don't make a 'deal,' and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries," Trump said.
Trump's post did not identify the countries that he considered participants in the conflict, or how he defined participation.
Former president Joe Biden's administration heaped heavy sanctions on thousands of entities in Russia's banking, defence, manufacturing, energy, technology and other sectors since Russia's February 2022 full-scale invasion of Ukraine, which has killed tens of thousands and reduced cities to rubble.
Russia's deputy United Nations ambassador Dmitry Polyanskiy said his government will have to see what Trump thinks a "deal" to end the war in Ukraine means.
"It's not merely the question of ending the war," Polyanskiy told Reuters.
"It's first and foremost the question of addressing root causes of Ukrainian crisis."
In the run-up to his November 5 election victory, Trump declared dozens of times that he would have a deal in place between Ukraine and Russia on his first day in office, if not before.
"No more lives should be lost," US President Donald Trump has said in a message on Ukraine. (AP PHOTO)
But Trump's aides have conceded a deal to end the war could take months or longer.
Earlier this month, the US Treasury hit Russia's energy revenues with its hardest sanctions yet, targeting oil and gas producers Gazprom Neft and Surgutneftegas as well as 183 vessels that are part of the so-called dark fleet of tankers aimed at evading trade curbs.
Trump has sought to use the threat of tariffs to achieve non-trade goals, including threatening Mexico, Canada and China with duties to push them to stop illegal migration and the flow of the deadly opioid fentanyl into the United States.
Those three countries are the top US trading partners.
But Russia is far down the list, with US imports from Russia falling to just $US2.9 billion ($A4.6 billion) through the first 11 months of 2024 from $US29.6 billion in 2021.
The US stopped importing Russian oil after its invasion but still imports some precious metals, including palladium used in car catalytic converters.
As for other participants, Biden's administration had imposed sanctions against entities in China, North Korea and Iran for aiding Russia's war effort.
Trump said he was "going to do Russia, whose Economy is failing, and President Putin, a very big FAVOUR. Settle now, and STOP this ridiculous War!".
"Let's get this war, which never would have started if I were President, over with! We can do it the easy way, or the hard way - and the easy way is always better. It's time to 'MAKE A DEAL.' NO MORE LIVES SHOULD BE LOST!!!" he said.
The negotiating positions of the two warring sides remain far apart, and some Ukrainians fear they could be forced to make massive concessions after three years of brutal combat.
The conflict has developed into a war of attrition largely fought along front lines in eastern Ukraine, with huge numbers of casualties on both sides.
