After much speculation, U.S. President Donald Trump officially announced his "Reciprocal Tariffs" plan on Wednesday, April 2, introducing a 10 percent "baseline tax" on nearly all imported goods. This move has intensified global trade tensions, raising concerns about higher inflation and the risk of economic stagnation in both the United States and worldwide.

During his speech at the White House Rose Garden, Trump held up a chart detailing additional tariffs on major U.S. trade partners, including China, India, Japan, and the European Union. However, Russia was notably absent from the list, despite the inclusion of almost every other country.

White House spokesperson Caroline Leavitt later explained to Axios that Russia was excluded because existing U.S. sanctions had already "disrupted any meaningful trade" with the country. Interestingly, the U.S. still conducts more trade with Russia than with smaller nations like Mauritius or Brunei, both of which appeared on the tariff list. Even war-torn Ukraine was included under Trump's new trade policy.

Russia’s exemption has surprised many observers, especially given Trump's previous warnings of additional sanctions on Russian oil if Moscow failed to end the war in Ukraine soon. Just last week, Trump stated that he was "very angry" and "frustrated" with Russian President Vladimir Putin over the ongoing conflict.

Beyond Russia, Belarus, Cuba, and North Korea were also left off the tariff list. However, Iran and Syria—both facing extensive U.S. sanctions—were hit with additional tariffs of 10 percent and 40 percent, respectively.

Source: NDTV