03.04.2025 11:12
U.S. President Donald Trump announced that starting today, the United States will impose reciprocal tariffs on other countries, with a basic tariff rate of 10%. The new list of customs duties includes 185 trade partners of the U.S., while Russia is not on this list. The justification for the decision was cited as the significant trade barriers caused by the sanctions imposed due to the war in Ukraine.
Under the decree signed by U.S. President Donald Trump, tariffs are expected to be imposed on 185 trade partners of the country, while Russia is not included in this list.
RUSSIA NOT INCLUDED IN THE LIST
White House spokesperson Karoline Leavitt stated in an interview with the U.S.-based news site Axios that Russia was not included in the list because the existing U.S. sanctions against Russia have already "significantly hindered trade."
TRADE VOLUME 3.5 BILLION DOLLARS
According to data from the U.S. Department of Commerce, trade between the U.S. and Russia has significantly shrunk compared to before the Ukraine-Russia War. The trade volume between the two countries, which was approximately 36 billion dollars in 2021, has dropped to about 3.5 billion dollars in 2024.
3 BILLION DOLLARS WORTH OF GOODS CAME FROM RUSSIA
In addition to the current sanctions against Russia, Trump had recently threatened to impose punitive tariffs on buyers of Russian oil. The U.S. imported more goods from Russia than it did from Ukraine last year. In 2024, approximately 3 billion dollars worth of goods are expected to come from Russia to the U.S., while about 1.2 billion dollars worth of imports were made from Ukraine.
TARIFF RATES RANGE FROM 10% TO 50%
According to Trump's tariff list, Ukraine will be subject to a basic tariff rate of 10%. Under the decree signed by President Trump, tariffs are expected to be imposed on many of the U.S.'s trade partners. Tariff rates range from 10% to 50%.
TURKEY IS ALSO ON THE LIST
In this context, tariffs of 20% are planned for the European Union, one of the main trade partners from which the country imports, 34% for China, 46% for Vietnam, 32% for Taiwan, 24% for Japan, 26% for India, 25% for South Korea, 36% for Thailand, 31% for Switzerland, 32% for Indonesia, 24% for Malaysia, 49% for Cambodia, 30% for South Africa, 37% for Bangladesh, and 17% for Israel. A 10% customs duty is expected to be applied to some countries, including Turkey, the United Kingdom, Brazil, Australia, the United Arab Emirates, New Zealand, Egypt, and Saudi Arabia.