Why Trump excluded Russia from his reciprocal tariff list
What's the story
United States President Donald Trump recently announced a sweeping reciprocal tariff plan, placing a 'baseline' 10% tariff on all imports to the US.
The new tariffs are applicable to about 60 countries, including China, India, Japan, and Bangladesh.
However, one major economy was conspicuous by its absence: Russia.
White House Press Secretary Karoline Leavitt told Axios that Russia was left off because US sanctions already "preclude any meaningful trade."
North Korea, Cuba, and Belarus were also not included.
Trade paradox
Trade with Russia still exceeds some tariff-listed countries
Per Axios, despite the sanctions, US-Russia trade is still more than with some countries on Trump's tariff list, including Mauritius and Brunei.
Even Ukraine, currently embroiled in a conflict, will now pay a 10% retaliatory tariff.
The other two big economies left off Trump's otherwise extensive list were Canada and Mexico. Leavitt stated that was because Trump had previously imposed 25% tariffs on both.
Tariff implications
Trump had previously warned of additional restrictions on Russian oil
Trump's decision comes as a surprise because just last week, he had vented his ire at President Vladimir Putin for the latter's comments on Ukraine's leadership.
"If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine,... I'm going to put secondary tariffs on oil coming out of Russia."
"That would be...if you buy oil from Russia, you can't do business in the United States...there will be a 25% tariff on all oil," Trump said.
Tariff increases
Additional tariffs imposed on Iran and Syria
Iran and Syria, both under harsh sanctions, have been slapped with additional tariffs of 10% and 40%, respectively.
China, which is already facing a 20% levy for its suspected role in the illegal fentanyl supply chain, has been hit with an additional 34%, taking the total to a staggering 54%.
Even Heard Island and McDonald Islands—two remote volcanic islands near Antarctica—have been imposed with a 10% tariff.