Part 2/10:
The announcement of sweeping tariffs on March 1, known as “Liberation Day,” has sent shockwaves through the global economic landscape. Drawing particular attention is the White House's assertion that Russia was excluded from these tariffs due to the existing sanctions related to the Ukraine war. However, a closer examination reveals that the U.S. still engages in substantial trade with Russia, contradicting the White House’s claims. Countries with much less import-export engagement with the U.S., including the uninhabited Heard and McDonald islands, were not spared from these tariffs. For the Kremlin, the initial lack of tariffs might seem beneficial, but the reality paints a more complex picture, particularly concerning oil prices and revenues.