U.S. and Allies Move to Further Isolate Russia From Global Economy

The 1930s tariffs were crafted to charge high levies on imports of manufactured goods and farm products but low rates on imports of raw materials — a design that would limit costs for U.S. factories, Mr. Gresser wrote in a blog post. Much of what Russia sends the United States is energy products and other minerals.

The U.S. tariff on palladium, for example, which is used in catalytic converters, would remain at 0 percent after the change, according to Mr. Gresser’s research. Tariffs on other significant exports from Russia, like king crab, uranium and urea, which is used in fertilizer, would also remain at 0 percent.

Tariffs would be somewhat higher for other products, like unwrought aluminum alloy, birch-faced plywood, bullets and certain steel products.

Energy imports from Russia — which accounted for about 60 percent of what the United States imported from the country last year — would face slightly higher tariffs. But Mr. Biden already announced this week that the United States would stop all shipments of Russian oil, gas and coal, a far more sweeping measure.

Mr. Gresser wrote that revoking Russia’s preferential trading status would impose some penalties, “but in most cases not very significant ones.”

“It may nonetheless be an appropriate symbolic and moral gesture, in particular if many W.T.O. members join in it,” he wrote. “But as a policy measure meant specifically to impose economic cost, the energy import ban is the one with practical real-world impact.”

Russia or another country, such as China, could challenge the decision to strip Russia of its trade status by bringing a case against the United States, the European Union or other countries at the World Trade Organization. But the global trade body offers large exceptions for actions taken to protect national security, and the United States and Europe could cite that rationale in their defense.

Reporting was contributed by Catie Edmondson, Katie Rogers, Alan Rappeport and Liz Alderman.

Source link


SAS, the Scandinavian airline, files for bankruptcy protection after pilots strike.

A day after its pilots went on strike, SAS,...

How scientists are shifting their search for links between diet and dementia

The internet is rife with advice for keeping the...

Deputy Victorian Nationals leader Steph Ryan to quit politics

Deputy Victorian Nationals leader Steph Ryan will announce her...

SAS, the Scandinavian airline, files for bankruptcy protection after pilots strike.

A day after its pilots went on strike, SAS, the Scandinavian airline, said on Tuesday that it had filed for Chapter 11 bankruptcy protection...

Nuclear Power Gets New Push in U.S., Winning Converts

Ms. Capito has argued that coal-fired power plants, which have been closing as the nation moves away from fossil fuel sources, could become sites...

Germany Posts First Monthly Trade Deficit in 30 Years

BERLIN — For the first time in more than three decades, Germany has posted a monthly trade deficit, the most recent sign that Europe’s...