Trump's global tariffs exclude Russia amid existing sanctions
President Donald Trump introduced new tariffs affecting almost every country in the world. However, Russia was not included on this list. As explained by Commerce Secretary Scott Bessent, this is due to existing sanctions. "Well, Russia and Belarus we don’t trade with. Right?," said Bessent in an interview with Fox News.
After President Trump announced the new tariffs, questions arose regarding the omission of Russia. A White House representative, quoted by Newsweek, explained that the existing sanctions related to the war in Ukraine have effectively reduced trade between the U.S. and Russia to zero.
New sanctions in preparation
American senators, including Lindsey Graham and Richard Blumenthal, are working on a bill to introduce new sanctions against Russia. The bill proposes imposing tariffs of 500% on goods imported from countries purchasing Russian oil, gas, and uranium.
Additionally, Trump announced the introduction of "secondary tariffs" on countries that continue to trade with Russia if Moscow does not agree to a ceasefire in Ukraine.
Trump imposes tariffs on the entire world
Donald Trump announced on Wednesday, during Liberation Day, "retaliatory tariffs" on the entire world. These include a 10% tariff on all imports and a 25% tariff on foreign cars. He then presented a list of countries and the corresponding tariff rates—20% for the European Union. The general tariffs will take effect from April 5, while the additional ones for specific countries will be effective from April 9.
The retaliatory tariffs imposed on the EU will be 20%. This is less than the new tariffs Donald Trump wants to impose on China, which will reach 34%, but more than the retaliatory tariffs aimed at, for example, Brazil, which will reach 10%.
During a conference in front of the White House, the U.S. President argued that these will be "nice tariffs," not as high as those imposed on the U.S. by other countries. He assessed that this tariff policy will make America rich again.
