US President Donald Trump has announced sweeping taxes, imposing a minimal 10 % tax on almost all countries globally, with additional higher levels targeting around 60 countries. Importantly, Russia was missing from the list of countries.
During his statement, Trump held up a table listing around 50 states, detailing the tariffs each imposed on the United States and the mutual duties the US had hit. Importantly, while some countries were included, Russia’s title was absent from the list.
When questioned, hit director Karoline Leavitt explained to Axios that Russia’s absence was owing to existing US sanctions that “preclude any significant trade”.
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However, America’s trade level with Russia surpasses that of some included countries, such as Mauritius and Brunei.
The price list was wonderfully comprehensive, including small territories like Tokelau ( pop. 1, 500 ) in the South Pacific and Svalbard ( pop. 2, 500 ) in the Arctic Circle, which belong to New Zealand and Norway respectively. Lake clarified that Cuba, Belarus and North Korea were likewise excluded due to pre-existing high taxes and restrictions.
US-Russia trade statistics show a dramatic decline from approximately$ 35 billion in 2021 to$ 3.5 billion last year, following sanctions imposed after Russia’s Ukraine invasion.
US and Russia improving relationships
Just US was seen siding with Russia in the international company. To everyone’s surprise, US supported Russia in UNGA. US voted against the European-drafted quality condemning Moscow’s activities and supporting Ukraine’s territorial integrity.
And then again in the UN Security Council ( UNSC ) Russia and US approved a US-backed resolution calling for a swift end to the conflict that avoided labelling Russia as the aggressor or acknowledging Ukraine’s territorial integrity.
Trump seeks more commerce with Russia: Report
According to a record by Forbes, Trump is seeking an improved business relations with Russia while employing taxes to reduce trade with other nations.
Financial experts show that Canada, Mexico and Europe present considerably more business leads than Russia. They challenge the logic behind Trump’s tax strategy aimed at reducing business imbalances.
Importantly, the United States has previously maintained a large trade deficit with Russia, Trump’s favored trading partner.
Following a phone conversation between Donald Trump and Vladimir Putin on March 18, 2025, the White House announced,” The two leaders agreed that a prospect with an increased bilateral relationship between the United States and Russia has massive back. This includes enormous economic deals and geopolitical stability when peace has been achieved”.
Trump frequently discusses potential trade arrangements with Russia and contemplates easing sanctions, despite Russia’s continuing Ukrainian invasion and UN-documented human rights violations, including civilian targeting and the kidnapping of approximately 20, 000 Ukrainian children.
Analysis of US-Russia trade statistics reveals two significant points. Firstly, bilateral trade volumes are relatively modest, totalling roughly$ 3.5 billion in 2024 and$ 36 billion in 2021. By comparison, US-Canada trade reached$ 762 billion in 2024.
The United States maintains a considerable trade deficit with Russia, contradicting Trump’s stance on trade imbalances with other nations. Before sanctions following Russia’s Ukraine invasion, 2021 figures show US exports to Russia at$ 6.4 billion against imports of$ 29.6 billion, creating a$ 23 billion deficit. Similar patterns appear in other years, with US exports primarily comprising chemicals, machinery and transport equipment, whilst importing oils, chemicals and metals.
Specialists indicate Russia presents an unfavourable and potentially dangerous environment for international businesses.
During U. S. mediated ceasefire discussions, which have now largely halted, Russia requested Trump to reduce some sanctions. Trump recently threatened Russia with secondary oil tariffs and expressed anger towards Vladimir Putin regarding his Ukraine statements.
Leavitt indicated possible “additional strong sanctions” against Russia.
Notably, Canada and Mexico were also absent from Trump’s extensive tariff list. Leavitt confirmed this was because of existing 25 % tariffs on both nations.
