MOSCOW, April 4. /TASS/. US President Donald Trump’s new import duties may have a positive impact on the Russian economy, special envoy of the Russian president on relations with international organizations for sustainable development goals Boris Titov told TASS.
"Trump is helping the Russian economy," he said. "On the one hand, oil prices will fall, which is bad for budget revenues and the ruble rate, but it will give an impetus to reducing dependence on raw materials. On the other hand, the absence of duties is an opportunity to increase exports and develop new industries for our own and American markets."
According to Titov, many countries faced with protective duties could start injecting money into Russian industries. "Think the Chinese auto industry. That kind of investment could finally lead to the diversification and growth of our economy," he explained.
On April 2, Trump imposed 10-50% duties on all goods imported into the US. On April 3, the US levied a 25% import duty on cars. Russia, however, was spared from the US tariffs, as it is already under sanctions.