Tariffs only work as a threat if the country they are imposed against has significant trade with the country imposing, either in total volume or in the importance to the country's economy. Russia's trade with the US is negligible. And what banking sanctions can possibly hit when Russian banks have been banned from the SWIFT payment system?
Trump is threatening essentially nothing. The only real threat to Putin is the thing Trump has decided to stop: supply of armaments and intelligence to Ukraine.
I am really not sure where Trump got the idea that tariffs are some sort of magic wand. The only place they might be useful is against China, and he's imposing lighter tariffs against them than against friendly countries. I guess the lesson of the Hawley-Smoot Tariff and anti-Japanese trade restriction in the 1930's is completely lost in the mists of history: tariffs and trade restrictions imposed on friendly countries are a great way to turn them into unfriendly countries. (Japan had been an Allied power in WWI and was eager for trade with the US before that, arguably US trade policy pushed them into the hands of their militarists and was the motivation for the concept of the "Greater East-Asian Coprosperity Sphere".)
