U.S. and Allies Will Strip Russia of Favored Trade Status

The 1930s tariffs were crafted to charge high levies on imports of manufactured goods and farm products but low rates on imports of raw materials — a design that would limit costs for U.S. factories, Mr. Gresser wrote in a blog post.

The U.S. tariff on palladium, for example, which is used in catalytic converters, would remain at 0 percent after the change, according to Mr. Gresser’s research. Tariffs on other significant exports from Russia, like king crab, uranium and urea, which is used in fertilizer, would also remain at 0 percent.

Tariffs would be somewhat higher for other products, like unwrought aluminum alloy, birch-faced plywood, bullets and certain steel products.

Energy imports from Russia — which accounted for about 60 percent of what the United States imported from the country last year — would face slightly higher tariffs. But Mr. Biden already announced this week that the United States would stop all shipments of Russian oil, gas and coal, a far more sweeping measure.

Mr. Gresser wrote that revoking Russia’s preferential trading status would impose some penalties, “but in most cases not very significant ones.”

“It may nonetheless be an appropriate symbolic and moral gesture, in particular if many W.T.O. members join in it,” he wrote. “But as a policy measure meant specifically to impose economic cost, the energy import ban is the one with practical real-world impact.”

Russia or another country, such as China, could challenge the decision to strip Russia of its trade status by bringing a case against the United States, the European Union or other countries at the World Trade Organization. But the global trade body offers large exceptions for actions taken to protect national security, and the United States and Europe could cite that rationale in their defense.

Reporting was contributed by Catie Edmondson, Katie Rogers, Alan Rappeport and Liz Alderman.

Why Choose SERP Triumph: Best Digital Marketing Agency in India

In today’s fast-paced digital landscape, businesses require more than just a website or social media presence. The key to thriving online lies in having an integrated digital strategy that covers SEO, paid marketing, social media management, and a user-friendly web experience. This is where SERP Triumph stands out. A Leading Digital Marketing Agency in India […]

Know More

Cash is King, But Credit is Power: The Benefits of Improving Your Credit Score by 20-30 Points

While cash is essential, credit is the true gateway to building wealth and achieving financial freedom. Even a small improvement of 20-30 points in your credit score can unlock significant financial benefits and opportunities. Here’s how: How Restore Credit Pro Can Help At Restore Credit Pro, we specialize in credit restoration services that work to […]

Know More

AquaFeel Solutions Tristate Announces New Office in North Jersey, Committed to Ensuring Clean Water for All

North Jersey – AquaFeel Solutions Tristate, a company dedicated to providing high-quality water purification solutions, is excited to announce the opening of their new office in North Jersey. Formed by three passionate individuals, Alexander Henriquez, Gustavo Jimenez, and Juvenia Silvester, AquaFeel Solutions Tristate is set to make a significant impact on the health and well-being […]

Know More