Trump is preparing to impose “unprecedented” tariffs on imports from Russia.

The Trump administration is preparing to introduce new tariff restrictions on imports from 15 countries, including Russia. These measures may take effect on April 2. Initially, it was planned for the tariffs to impact specific economic sectors, including the automotive industry, pharmaceuticals, and semiconductor production.

However, another option is currently under consideration – individual rates for each country, which would allow for more flexible control of trade balances. The list of countries that may face new restrictions includes Russia, China, the EU, India, Canada, Japan, South Korea, Australia, Brazil, Vietnam, Mexico, and several other countries with which the US has a significant trade deficit.

Despite the overall trade decline between Washington and Moscow, which hit a record low of $3.5B in 2024 (the lowest since 1992), Russia remains on the list of countries that could see new tariffs applied. Tariff rates could rise to “levels unprecedented in decades.” The Trump administration has the authority to impose them immediately, utilizing the president’s extraordinary economic powers.