Washington:
After weeks of anticipation, US President Donald Trump on Wednesday unveiled his reciprocal tariffs plan by declaring a 10 per cent baseline tax on practically all goods imported to the United States, with steeper rates tailored to those that Washington deemed the “worst offenders”, kicking into high gear a global trade war that threatens to drive up inflation and stall economic growth in US and worldwide.
During his speech at the White House Rose Garden, the 78-year-old Republican waved a chart with exact details on the sweeping additional duties impacting major US trading partners, including China, India, Japan and the European Union. However, missing from the list that virtually contained the entire world was Russia.
Later, White House spokesperson Karoline Leavitt told Axios that Russia was not on Trump’s tariff list because US sanctions already “preclude any meaningful trade.”
However, the United States still trades more with Russia than with countries like Mauritius or Brunei, which were part of the tariff list. In fact, even war-torn Ukraine was on the list and is set to face a 10 per cent retaliatory tariff in addition to many other former Soviet satellites.
Trump-Putin Rift
The exemption of Russia from the list came as a surprise to many, especially after Trump threatened additional sanctions on Russian oil if Moscow failed to end the war in Ukraine soon. Last week, the US President said he was “very angry” and “pissed off” at Russian President Vladimir Putin when he criticised the credibility of Ukraine’s Volodymyr Zelenskyy.
“There will be a 25 per cent tariff on oil and other products sold in the United States, secondary tariffs,” Trump said, adding the tariffs on Russia would come within a month without a ceasefire deal.
Since returning to the Oval Office, Trump has been trying to negotiate with Russia, hoping to quickly bring an end to the war in Ukraine.
Who Else Was Exempted From Putin’s List
Belarus, Cuba and North Korea, which also faced US sanctions, weren’t hit with reciprocal tariffs. However, Iran and Syria, also facing heavy embargoes and sanctions, were hit with additional tariffs of 10 and 40 per cent, respectively.
Major US partners Canada and Mexico, which were targeted by Trump’s taxes earlier, were also not subject to the new tariffs. Trump earlier imposed 25 per cent tariffs on imports from both countries, with a lower rate on Canadian energy, and they will continue to face these duties.
However, China, which already faced a 20 per cent levy over its alleged role in the supply chain of illicit fentanyl, was slapped with an additional 34 per cent figure, taking the new additional figure to 54 per cent.
