The U.S. has imposed tariffs on Russian and Chinese goods
The administration of U.S. President Donald Trump has announced new tariffs on imported goods from 60 trading partners. The list of countries from which imports will be subject to a 12.5% tariff includes Russia and China.
The tariff rates are 10% and 12.5%. According to CNN, the U.S. Department of Commerce stated that the new tariffs affect 99.4% of imports.
The Trump administration justified the decision to impose tariffs by stating that the countries affected have not implemented or are not sufficiently enforcing a “ban on imports of goods produced using forced labor.”
For goods from the European Union, Taiwan, Japan, South Korea, and Switzerland, the rate will be 10% or 12.5%, taking into account existing trade tariffs.
The decision took effect on July 24 (at 12:01 a.m. Eastern Time or 7:01 a.m. Kyiv time). However, a transition period is provided for goods that were already in transit at that time—the new tariffs will take effect on July 28.
This is according to a notice published in the Federal Register—the U.S. government’s official record of regulations.
As a reminder, the British government has assured that the United States’ decision to impose new tariffs due to allegations of insufficient compliance with the ban on forced labor will not have negative consequences for British companies.
As early as next week, the U.S. Senate may consider a bill to impose harsh sanctions against Russia, known as “hellish sanctions.” The bill was sponsored by Senator Lindsey Graham, who recently passed away.
