WASHINGTON, June 27. /TASS/. The United States announced the introduction of higher tariffs on more than 570 groups of goods from Russia worth about $2.3 billion, the White House reported in a statement on Monday.
"President Biden is also announcing that, pursuant to Congress’s revocation of Russia’s trade status in the U.S., the U.S. will implement a higher tariff rate on more than 570 groups of Russian products worth approximately $2.3 billion to Russia. These measures will restrict Russia’s ability to benefit economically from sales to the U.S. market and are carefully calibrated to impose costs on Russia, while minimizing costs to U.S. consumers," the document says.
The decision of the US administration is timed to coincide with the G7 summit, which is under way in Germany.
It is noted that Biden and his colleagues in the G7 intend to use tariffs on Russian goods to help Ukraine.
On April 8, US President Joe Biden signed bills, passed by the Congress earlier, on suspension of normal trade relations with Russia and Belarus. The suspension of this status will allow the US to set higher tariffs for Russian and Belarus than for all other WTO member states. This power will remain in effect until January 1, 2024. In the meantime, the US President would be able to restore normal trade relations with Russia and Belarus, should these countries cease what Washington considers aggressive actions against Ukraine, or under other conditions.