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US and Allies Will Take Off Russia’s Preferential Trade Status


Mr. Gresser said the Smoot-Hawley tariffs of the 1930s were designed to levy high taxes on manufactured goods and imported agricultural products, but at a low rate of import of raw materials, in order to limit costs for producers. American machine. As a major producer of energy and minerals, much of what Russia sends to the United States falls into those categories.

According to Mr. Gresser’s research, US tariffs on palladium, used in catalytic converters, will remain at 0% both before and after the change. Tariffs on other key exports from Russia, such as king crab, uranium and urea, used as fertilizer, will also be at 0%.

Tariffs will be slightly higher for other products, such as unwrought aluminum alloys, birch faced plywood, bullets and certain steel products.

Energy imports from Russia – which accounted for about 60% of US imports from Russia last year – will face slightly higher tariffs. But Mr. Biden announced earlier this week that the United States would halt all Russian shipments of oil, gas and coal, a much more sweeping measure.

Mr. Gresser said that revoking Russia’s preferential trade status would impose some penalties, “but in most cases these penalties are insignificant.”

“It could be an appropriate symbolic and moral gesture, especially if there are many WTO members involved,” he wrote. “But as a policy measure specifically meant to impose economic costs, the energy import ban is a measure with real-world effects.”

Other governments could challenge these steps by bringing a case against the United States, the European Union or other countries at the WTO. their defense.

Catie Edmondson, Katie Rogers, Alan Rappeport and Liz Alderman contribution report.



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