Potential Russia-Ukraine peace would boost agriculture, oil prices: Expert economist

LONDON

A potential peace agreement between Russia and Ukraine could boost agriculture and oil prices, which would be “good for the world,” renowned investor and economist Jim Rogers told Anadolu.

Rogers noted that, while both Russia and Ukraine are major agricultural producers, Russia is also a significant oil producer. A potential peace deal between the two would positively impact markets, raising oil and agricultural prices while promoting stabilization.

He stressed that Russian President Vladimir Putin "certainly wants peace because war is expensive," adding that all parties involved would ultimately benefit from peace.“War has never been good for anybody – even for those who think they won, because nobody wins from wars,” he said.

Tariffs lead to problems

Rogers argued that US President Donald Trump’s tariffs would have negative implications for both the global and US economies, saying history shows tariffs are “not good for anybody,” but that Trump “either doesn’t know or doesn’t care.”

“He will probably impose more tariffs and it will not be good for America. It will not be good for anybody,” he said. “They raise prices, and higher prices mean higher inflation and less competitiveness.”

Rogers noted that until recent weeks, after Trump took office, the US stock market had been on its longest trouble-free course since 2009.

“We have never had such a long period of good times before. History would indicate we’re overdue for a problem,” he highlighted. “I certainly can see problems coming.”

“I see lots of enthusiasm developing in the markets, which is usually a bad sign. I have not started selling short yet, but I have sold nearly all of my stocks everywhere in the world, including the US and China – I have not sold China or Uzbekistan (stocks but) I’ve sold all other countries’,” he said

Trump tariffs on 2 neighbors

Trump imposed 25% tariffs on products from Canada and Mexico, effective March 4. He later clarified that these tariffs would not take effect on products covered by the US-Mexico-Canada Agreement until April 2.

Trump’s tariffs on steel and aluminum imports were enforced on March 12, and Canada retaliated with a 25% tariff plan on imports worth $20.8 billion.

Washington also doubled existing tariffs on China from 10% to 20%.