On April 2, US President Donald Trump took a big economic step and announced a wide tariff on 184 countries around the world. Under this policy, India has been imposed 26 percent, while China and other countries have been imposed even more import duty. Most countries will have to face baseline tariffs of 10 percent.
However, some countries like Russia, Cuba, Belarus and North Korea have been excluded from this list, which has raised many questions.
Is Trump playing a relationship with Russia?
Russia’s absence became a matter of discussion as soon as the ‘tariff list’ was released. The White House had to clarify this.
White House Press Secretary Caroline Lewit made a statement that Russia is already under stringent US sanctions, which almost eliminated commercial relations between the two countries. According to him, the restrictions imposed on Russia eliminates the requirement of any new tariff.
However, it was also clarified that Russia might have to face more strict sanctions in the future. President Trump had recently warned Russia to impose secondary tariffs on oil and expressed displeasure over Russia’s action on Ukraine.
Current status of Russia-American Trade Relations
The US has imposed a comprehensive economic sanctions on Russia due to the Ukraine War. This has affected the trade of both countries.
- In 2021, bilateral trade between the US and Russia was $ 35 billion.
- By 2023 it declined to just $ 3.5 billion.
However, it is still more than some small countries such as Mauritius or Brunei, which is included in the Trump’s tariff list.
Which countries were exempted from tariffs?
Apart from Russia, lower countries are also excluded from the tariff list:
- Cuba
- Belarus
- North korea
These countries already have effective economic sanctions. Therefore, the Trump administration decided to keep them out of additional tariffs.
At the same time, Canada and Mexico have also not been included in this new list. According to the White House, 25 percent tariffs have already been imposed on these two countries.
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The post Trump’s tariff policy: Fee on 184 countries, why some countries including Russia outside? First appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
