If President Donald Trump follows through with one of his recent threats to punish Russia for the invasion of Ukraine, the result could be "staggering" inflation, reported NBC News.

Specifically, Trump has levied 50 percent tariffs on India in retaliation for purchasing oil from Russia, with the idea being to force it and other Russian trading partners to isolate the Kremlin. That took effect on Wednesday. Previously, Trump had planned tariffs on India to be set at 25 percent, already a massive increase, and five rounds of trade negotiations with India have yielded no progress.

But U.S. consumers could be significant casualties of the new tactic.

"Going up from 25 percent to 50 percent is going to mean more staggering price increases on the many things that we bring in from India," NBC analyst Brian Cheung said. "This is not necessarily one of our top five trading partners, but as one of the more significant, especially fast-growing economies in the world, there are a number of imports that we get from India that now could be subject to these tariffs."

Among these imports, Cheung noted, are electronics, machinery, textiles, and jewelry; however, pharmaceuticals and smartphones, which are also major exports from India, will not be subject to the 50 percent rate.

Trump has tried to broker a peace agreement between Russia and Ukraine, which he had boasted he could accomplish in just 24 hours; however, Vladimir Putin has walked away from talks multiple times, refusing to engage productively.

In recent weeks, Trump had expressed frustration with Putin's inability to compromise, but came out of a summit with the Russian leader in Alaska with a seemingly more sympathetic position toward him.

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