On June 27, 2022, U.S. President Biden met with G7 leaders in Germany to reaffirm
America’s support for Ukraine and impose additional economic penalties on Russia. Primarily, the United States will implement a higher 35 percent tariff rate on more than 570 groups of Russian products worth approximately $2.3 billion starting July 27, 2022.
The White House released a proclamation and FACT SHEET detailing the commitment outlined by G7 leaders:
- Sanctions on hundreds of individuals and entities – adding to the thousands already sanctioned.
- Take action on evasion by targeting companies in several countries that adds to the over 300 Entity Listings already in place.
- Impose tariffs on hundreds of Russian products worth billions of dollars.
- Measures targeting the Russian military production and supply chains.
- Restrictions on Russia’s participation in the global market and further crack downs on evasion attempts.
- Imposition of costs on those responsible for human rights abuses – including war crimes, profiteering, and illegitimate authorities.
- A significant G7 Commitment for Budgetary Support and other support for Ukraine.
G7 leaders announced another package of economic measures that will continue to isolate Russia from the global economy and deprive Russia of the means to persist in its war of aggression against Ukraine. These commitments build on the Biden Administration’s previously announced sanctions on Russia’s financial, energy, and military sectors, as well as our efforts to curtail Russia’s access to certain technologies.
KATHERINE TAI, U.S. TRADE REPRESENTATIVE
Statement by Ambassador Katherine Tai on New G7 Sanctions Commitments
The products and categories covered by the announcement include steel and aluminum; minerals, ores, and metals; chemicals; arms and ammunition; wood and paper products; aircraft & parts; and automotive parts.
TIMELINE OF ACTION
April 8
U.S. signs the Suspending Normal Trade Relations with Russia and Belarus Act (19 U.S.C. 2434 note) (Suspending NTR Act).
- Suspended nondiscriminatory tariff treatment for products of the Russian Federation and of the Republic of Belarus.
- Imposed the rates of duty set forth in column 2 of the Harmonized Tariff Schedule of the United States (HTSUS) on all products of the Russian Federation and of the Republic of Belarus, effective as of April 9, 2022.
April 8
U.S. signs the Ending Importation of Russian Oil Act (22 U.S.C. 8923 note)
- Prohibits imports of all products of the Russian Federation classified under chapter 27 of the HTSUS
March 8
Executive Order 14066 prohibiting, inter alia, importation into the United States of the following products of Russian Federation origin: crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal products.
March 11
Executive Order 14068 of March 11, 2022, I prohibited, inter alia, the importation into the United States of the following products of Russian Federation origin: fish, seafood, and preparations thereof; alcoholic beverages; and non-industrial diamonds.
NEW June 27
Under section 3(b)(1) of the Suspending NTR Act, the U.S. will increase the column 2 rates of duty to 35 percent ad valorem on certain other products of the Russian Federation, the importation of which has not already been prohibited, is warranted and consistent with the foreign policy interests of the United States.
- Effective July 27, 2022 on or after 12:01 a.m. eastern daylight time, 30 days after the date of this proclamation and shall continue in effect, unless such actions are expressly reduced, modified, or terminated.
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