Border adjustment tax succeeds – generates billions of revenue and deters further military aggression
Asia News Monitor, 2-28-2023, "United States/Russia: US announces additional tariff increases on goods from Russia worth $2.8 bln," No Publication, https://www.proquest.com/docview/2780172405/fulltext/2419F01537434E3FPQ/1?accountid=14667
US President Joe Biden on Friday handed down instructions to increase tariffs on the import of Russian goods worth $2.8 bln, United States Trade Representative Katherine Tai said in a statement.
"Over the last year, President Biden has worked with our Allies and partners to support Ukraine and impose strict costs and sanctions on Russia for its aggression against Ukraine. As part of that effort, today President Biden announced additional tariff increases on a variety of goods from Russia worth approximately $2.8 bln," the statement reads.
"President Biden raised tariffs on most metal and metal products - doubling them from 35 to 70% and targeting a crucial revenue generating sector of the Russian economy. President Biden also increased tariffs on additional Russian products to 35%, including chemicals and minerals," Tai added.