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In their first talks, Russia’s President Vladimir Putin and the US President Donald Trump noted the importance of restoring full-scale economic partnership, with due account of the fact that in 2016 Russian-American projects started and continued virtually across the entire economy. Mutual trade in early 2017 also demonstrated some positive dynamics.
A sudden warming in the Russia-US relations is unlikely. Rapprochement is only possible in consecutive, constructive steps, with joint business projects creating the required economic base. The disposition for such collaboration has been expressed in a number of statements of government and business officials on both sides since late 2016.
The US is one of Russia’s most important trade partners today. In 2016, the turnover between the two countries accounted for USD 20.3 billion.
Once the sanctions were launched, the turnover between the two countries went down, but the first quarter of 2017 shows some positive trends: the Federal Customs Service reports that its rate rose 25% year-on-year.
The new US government’s initiatives to protect national industries, including the use of steel in infrastructure projects, can deter the turnover growth.
Despite some political disagreements, the bilateral business interest in investment remains high.
Mutual collaboration in portfolio investments is gaining momentum as well.