By takumihamano 
The trade relationship between Russia and the United States has been a topic of significant interest and concern, especially given the ongoing geopolitical tensions and economic sanctions. Here, we provide an overview of the latest developments in Russia-US trade relations based on recent news.
- US Holds Off on Russia Tariffs Amid Ukraine Talks: The White House announced that Russia’s exclusion from new US tariffs is due to ongoing negotiations regarding the Ukraine conflict. A 10% base minimum tariff rate was announced by the US, with higher rates determined by trade deficits to achieve balance. Russia and Belarus were not subject to these tariffs, citing Russia’s minimal current trade with the US as a reason for its exclusion. The decision aims to avoid interfering with ongoing peace negotiations.
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RDIF Head’s Washington D.C. Trip Signals Warming Russia-US Relations: Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF) and special presidential envoy, visited Washington D.C., indicating positive Russia-USA relations. Discussions with key US administration officials focused on restoring relations, including economic cooperation and resuming direct air travel. Progress on the Ukrainian issue is crucial for further advancements in bilateral relations.
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Peskov: No Russian Benefits from New US Tariffs: Dmitry Peskov, Russian presidential spokesperson, stated that Russia sees no benefits from potential consequences of new US tariffs. Russia’s trade with the US is currently insignificant, hence its exclusion from the tariff list. The global economy reacted emotionally to the US President’s decision, with increased market volatility.
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Trump: US to Sanction Russian Oil Imports Without Ukraine Peace Deal: US President Donald Trump announced that the US would impose secondary restrictions on Russian oil if no Ukraine peace deal is reached. A 25% tariff on all Russian oil could be implemented, impacting businesses that purchase Russian oil. Companies buying Russian oil may face restrictions on doing business in the United States.
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Russia, Sri Lanka Explore Enhanced Energy Cooperation: Russia and Sri Lanka discussed increasing energy resource supplies to Sri Lanka. The discussion involved the Russian Deputy Energy Minister and the Sri Lankan Energy Minister, along with Sri Lankan energy companies. Joint investment projects in the fuel and energy sector were discussed, focusing on increasing feedstock supplies to meet Sri Lanka’s energy needs.
In summary, the trade relationship between Russia and the United States remains complex and heavily influenced by geopolitical factors. While there are ongoing efforts to negotiate and potentially improve relations, significant challenges and uncertainties persist. The exclusion of Russia from new US tariffs and the discussions on energy cooperation with other countries highlight the multifaceted nature of Russia’s trade strategy in the current global context.