“Today, G7 leaders announced another package of economic measures that will continue to isolate Russia from the global economy and deprive Russia of the means to persist in its war of aggression against Ukraine. These commitments build on the Biden Administration’s previously announced sanctions on Russia’s financial, energy, and military sectors, as well as our efforts to curtail Russia’s access to certain technologies.
“Over the last three months, President Biden has united our allies and partners to impose severe economic sanctions on Russia. Today’s announcement on tariffs, granted under the authority of the Suspending Normal Trade Relations with Russia and Belarus Act, will further restrict Russia’s economy, while minimizing costs to U.S. consumers.
“We look forward to working with Congress to enact legislation that will allow the proceeds of the tariffs we are raising today to be used to help Ukraine. This will send an important message to Russia that it will have to pay for the costs of its war.
“Together with our G7 partners, we are reaffirming our commitment to holding Russia accountable for its actions. We will work with our partners and allies to ensure Russia does not benefit from the multilateral trading system while it continues this unjustified war.”
The White House Fact Sheet on today’s announcement is available here.
The list of products and categories covered by today’s announcement includes: steel and aluminum; minerals, ores, and metals; chemicals; arms and ammunition; wood and paper products; aircraft & parts; and automotive parts.
The Federal Register on Increased Duties on Certain Imported Articles is available here.
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