That country is not on Trump's customs tariff list

U.S. President Donald Trump has introduced new customs tariffs on 185 of the country's trading partners through a new executive order he signed. While the base tariff rate for the implementation is set at 10 percent, this rate goes up to 50 percent for some countries. However, a striking detail was that Russia was not included in this list.

White House Press Secretary Karoline Leavitt, in a statement to the U.S.-based news site Axios, explained the reason for Russia's exclusion from the list as "trade between the two countries having largely shrunk due to existing U.S. sanctions."

According to U.S. Department of Commerce data, the U.S.-Russia trade volume, which was approximately 36 billion dollars in 2021, has declined to 3.5 billion dollars as of 2024. Furthermore, Trump had recently threatened to penalize buyers of Russian oil with heavy customs duties.

HIGHEST TARIFFS ON CHINA AND VIETNAM

Within the scope of the new tariffs announced by Trump, the highest rates will be applied to countries such as China, Vietnam, and Cambodia.

According to the new customs duties:

• China: 34%
• Vietnam: 46%
• Thailand: 36%
• India: 26%
• Japan: 24%
• Taiwan: 32%
• Switzerland: 31%
• Bangladesh: 37%
• Israel: 17%

A tariff rate of 20 percent will be applied to the European Union.

For countries such as Turkey, the United Kingdom, Brazil, Australia, the United Arab Emirates, New Zealand, Egypt, and Saudi Arabia, a customs duty of 10 percent is envisioned.

Ukraine will be subject to the 10 percent base tariff rate. However, it was noted that the total value of goods the U.S. imported from Ukraine in 2024 was 1.2 billion dollars, whereas imports from Russia were at the level of approximately 3 billion dollars.

While Trump's new trade policy has sparked debates on how it will affect global trade balances, how major economies in Europe and Asia will respond to this decision remains a subject of curiosity.

News Source: AA