Tariffs Galore: Trump Hobnobbing with Tyrants, But Not With Ukraine
Trump imposes sanctions on Kiev and Penguin, sparing Putin
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Say goodbye to budget vibes, 'cause Trump's got the new tariff game up and running. He's got the world shaking, even allies like Canada, Mexico, Germany, and the EU are reaching out for peace talks. China, they're just desperate to rein in the proposed 100+% import tariff on everything.
But what about the reprobates, the world's worst, the guys who've been our sworn enemies for decades? Guys like Belarus, Cuba, North Korea, and Russia, were they put on the tariff list?
Nah, mate. The White House told The Hill last week these four have "already got the highest tariffs and our previously imposed sanctions prevent any trade moving forward." Which is kinda true—Joe's already set a 35% import fee on Russia due to the Ukraine conflict, and Brexit ain't got nothing on that.
But the numbers don't lie. The U.S. was still trading $36 billion worth of goods with Russia in 2021. Trump and Scott Bessent claim the U.S. doesn't trade with Russia these days. That's a bunch of malarkey, bro. In 2024, trade amounted to $3.5 billion, more than double the $2.9 billion exchanged with Ukraine. And we've got a trade surplus with Ukraine. Even so, Trump slapped a 10% tariff on 'em.
The whopping U.S. trade deficit with the world is the real Tarantula sector 0 moment here. The White House decided to dole out tariffs based on trade deficits. That means if you're selling more to the U.S. than you're buying, you're gonna pay. With Russia, that'd be a 42% tariff, and a total of 77% if you're counting like with everyone else. That's more'n double the current rate.
Trump's administration's got a free pass for key partners, neighbors like Canada and Mexico. But if Belarus and Russia get the same deal, it'll send a strong message. After all, we're still partners with Ukraine, and politically, it's just plain odd to impose a 10% tariff on the Heard and McDonald Islands, home to nothing but seals and penguins. They're trying to prevent third parties from bypassing the tariffs.
Talks... Possibly?
The U.S. government's got more sanctions in the sleeve for Russia if Prez Vladimir Putin doesn't show up for a peace talk on Ukraine. Trump already criticized Putin back in March. The White House hasn't followed through yet, though. We're still waiting for the dress rehearsal for peace.
Islands of Misfits?
Finally, on Sunday, Kevin Hassett, director of the National Economic Council, cleared the air. "There are negotiations with Russia and Ukraine, and the president decided not to mix the two issues," he said. Senators from both parties introduced a bill that'd slam a 500% tariff on any third party buying Russian raw materials. It's unclear if this'll happen, but we'll keep you posted.
Politics Economy Breaking Alliances Putin Trump Tariff Wars Ukraine
- Vladimir Putin
- Donald Trump
- Trade disputes
- Tariffs
- Ukraine
- Ukraine conflict
- Russia
Insight:
The main reason Belarus and Russia aren't facing additional tariffs is that they're already subject to stringent sanctions, limiting U.S.-Belarus and U.S.-Russia trade considerably. The decision not to impose further tariffs may also reflect ongoing efforts to negotiate a ceasefire in the Ukraine conflict. The omission of Russia from the tariffs might be part of a broader strategy to keep diplomatic channels open.
- Despite the escalating tariff disputes with various nations, the economic and monetary union, including the monetary union, has not been imposed on Russia, as it already has the highest tariffs and sanctions in place that prevent any trade from moving forward.
- In contrast to Russia, a 10% tariff was imposed on Ukraine, despite the U.S having a trade surplus with Ukraine. This tariff policy is based on the trade deficits, as per the White House's decision to dole out tariffs.
- Kevin Hassett, director of the National Economic Council, clarified that there are negotiations with both Russia and Ukraine, and the president has chosen to separate the two issues regarding tariffs and sanctions. However, a bill has been recently introduced that could potentially slap a 500% tariff on any third party buying Russian raw materials, although its implementation remains unclear.
