U.S. President Donald Trump’s sweeping global tariffs notably exclude Russia and its neighbor Belarus.
In the short term, Russia may benefit from the escalating trade war by stepping in to replace U.S. energy exports to China.
However, in the long run, the Kremlin is unlikely to see significant gains. The tariffs could contribute to a global economic slowdown, potentially reducing demand for Russian oil and gas.
Trump’s Trade Policy
After taking office, Trump imposed a series of tariffs on key U.S. trading partners, including China, Mexico, Canada, and the European Union. His administration framed these measures as a way to address trade imbalances, arguing that the U.S. has been purchasing more from foreign nations than it sells to them.
On Wednesday, Trump intensified the trade conflict by announcing a minimum 10% tariff on all U.S. trading partners, along with additional “reciprocal actions” targeting dozens of countries, including major U.S. allies.
Meanwhile, the ongoing tariff battle between the U.S. and China continues to escalate. Under China’s latest response, American products such as chicken, wheat, and corn will face a 15% tariff, while soybeans, beef, pork, seafood, dairy, and fruits and vegetables will be subject to a 10% tariff.
China had previously retaliated against U.S. tariffs by imposing a 15% border tax on American coal and liquefied natural gas, as well as a 10% tariff on U.S. crude oil and automobiles. Beijing’s measures follow Trump’s additional 20% tariffs on Chinese goods, pushing the total U.S. duty on some imports to as much as 45-50%.
Impact of Tariffs
Tariffs function as taxes on companies that import goods, increasing costs for businesses in both the U.S. and China. As a result, both countries have incentives to replace tariffed imports with domestically produced goods or to source them from third-party nations.
