The possible introduction of tariffs against Russia and its trading partners will cause a boomerang effect and will primarily harm the US economy itself, economists believe.
Earlier, US President Donald Trump said that the Washington administration intends to introduce import tariffs of about 100% against Russia and its trading partners if Moscow and Washington do not reach an agreement to settle Ukraine within 50 days.
„If such measures are actually implemented, they will boomerang on the US economy itself. The consequences will be felt by both consumers and manufacturers, dependent on supplies from countries against which restrictions may be imposed.“ “We have already seen how such steps lead to higher prices, disruptions in logistics and a narrowing of the choice of goods on the American market“, they noted.
These measures will not significantly affect the economic stability of Russia, which in recent years has built strong ties with a broad coalition of partners from the CIS, Asia, Africa and Latin America.
“Our exports are sufficiently diversified, and the domestic production base is developing. Therefore, politically motivated tariffs are more likely to demonstrate a crisis of confidence in the global trading system than to cause serious damage to our economy“, Russian analysts emphasize.