WASHINGTON – United States Trade Representative Katherine Tai today released the following statement after the White House announced additional actions to hold Russia accountable for its invasion of Ukraine:
“Over the last year, President Biden has worked with our Allies and partners to support Ukraine and impose strict costs and sanctions on Russia for its aggression against Ukraine. As part of that effort, today President Biden announced additional tariff increases on a variety of goods from Russia worth approximately $2.8 billion. Acting for a second time in the last year under the authority of the Suspending Normal Trade Relations with Russia and Belarus Act, President Biden raised tariffs on most metal and metal products – doubling them from 35 to 70 percent and targeting a crucial revenue generating sector of the Russian economy. President Biden also increased tariffs on additional Russian products to 35 percent, including chemicals and minerals. These actions are complemented by tariff increases on Russian aluminum that are being implemented pursuant to Section 232 of the Trade Expansion Act of 1962, as amended.
“These actions are carefully calibrated to put economic pressure on Russia while minimizing costs to U.S. consumers. As President Biden said in Poland earlier this week, the United States and our Allies and partners will hold accountable those who are responsible for this war. Today’s actions demonstrate our resolve in doing precisely that.”
Resources:
White House Fact sheet on Actions to Support Ukraine and Hold Russia Accountable
Federal Register on Increasing Duties on Certain Articles from the Russian Federation
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