On August 8, discussions focused on Donald Trump’s potential introduction of new US tariffs and so-called "secondary sanctions" against Russia, India, and China. Ivan Us, PhD in Economics, joined the studio to analyze the economic context and implications for global trade and Russia’s economy.
According to Us, Trump is focusing on financial and economic pressure tools, especially in energy trade. Currently, 93% of Russian oil exports go to India and China, making these countries likely targets for US tariffs of up to 50%.
The analyst notes that these new tariffs hit both India’s and China’s economies, while aiming to rewrite global trade rules outside the framework of the World Trade Organization (WTO). The US GDP is expected to lose up to $108.2 billion, and the average US household might lose $861 due to price increases.
India’s exports to the US reached $91 billion last year – with 50% tariffs, the duty burden could exceed $40 billion. China faces similar restrictions, with overall losses estimated at over $66 billion.
The main idea behind US actions is to curtail the economic rise of China and India, ensuring America’s global leadership. This comes alongside the formation of new trade alliances with the EU, UK, and Japan.
For Russia, the impact is significant: the budget deficit now exceeds $54 billion. The US decision has set a precedent – countries buying Russian energy could themselves face sanctions.
In summary, new US tariffs aim to reshape the global economic landscape, with broad consequences for major US trading partners and America's own economy.
