US President Donald Trump has suggested imposing tariffs on Russia and Ukraine if the two countries fail to reach a peace agreement, saying similar measures had helped end several other conflicts.

Axar.az reports that Trump made the remarks in South Florida, claiming that tariffs had contributed to ending eight wars, five of which he said were resolved through trade tariffs.

“I said, ‘If you continue to fight, we're going to put 200% tariffs on both of you.’ And, amazingly, they stopped the war. Probably, we should immediately do the same with Ukraine and Russia. I've never even thought about that,” Trump said.