US preparing to impose new import tariffs, and Russia may be included in list – WSJ
Photo: US President Donald Trump (Getty Images)
The US is preparing to impose new tariffs on imports, particularly for countries with a trade imbalance. Russia may be among the targeted nations, The Wall Street Journal reports.
The White House plans to adjust its tariff strategy, with new measures set to take effect on April 2. The Trump administration will likely narrow the scope of industries subject to tariffs, focusing instead on countries with the largest trade imbalances with the US.
On April 2, US President Donald Trump declared a Day of Liberation for the US, when reciprocal tariffs were supposed to be introduced to align American customs duties with those imposed by trading partners. Special tariffs were also planned for industries such as automotive, pharmaceuticals, and semiconductors.
However, this decision may be revised, and industry-specific tariffs will likely not be announced on the scheduled date.
According to WSJ sources, the White House will target countries with trade imbalances, including Australia, Brazil, Canada, China, the European Union, India, Japan, South Korea, Mexico, Russia, Vietnam, and others, a person familiar with the plans said.
However, the administration has not yet provided a clear list of countries that will be subject to the new tariffs.
US tariff wars
In early February, the US president raised tariffs on steel and aluminum imports to a fixed 25% for all countries worldwide without exceptions. The biggest raw material importers — Canada, Mexico, Russia, and China — were hit the hardest.
Trump justified his decision as an effort to support American industry. However, some countries responded by imposing retaliatory tariffs on US imports, sparking trade wars.
Additionally, on February 19, the president announced plans to introduce a 25% tariff on automobile imports to the US.
The new tariffs were initially set to take effect on March 4. However, after a meeting with the three largest American automakers, Trump postponed the implementation of auto import tariffs from Canada and Mexico by one month. During this period, manufacturers were expected to shift their supply chains to the US.
The current effective date for auto import tariffs and certain sectoral tariffs from other countries to the US is April 2.
