Breaking News : RUSSIA will not support U.S. Trade Wars?!

 Top U.S. exports to Russia include transportation equipment, machinery and mechanical appliances according to the U.S. Department of Commerce. But Russia is also diving into the trade spat between U.S. and China, imposing their own set of tariffs on American goods. This week, Russia's economic development minister said that import taxes ranging from 25% to 40% have been applied to U.S. products, mainly in equipment and manufacturing. While the impact on the U.S. economy may be relatively small, "the Kremlin takes the issue very seriously," Frolovskiy said. "Trump's protectionist measures might leave a serious impact on the Russian still-struggling economy and its trade relations with China, which is Russia's largest trading partner." Russia Dumped Half of Its U.S. Debt As of one year ago, Russia was the 12th largest holder of U.S. Treasurys. In April, they summarily dumped about half of those holdings, the most dramatic drop of any foreign country, and now hold about $48.7 billion. After his most recent inauguration, Putin signaled a desire to break from the U.S. dollar and bolster "economic sovereignty" in Russia as the U.S. slapped two rounds of sanctions in 2017 and 2018 on Russia, "The Russian government wants to show by all means that it is distancing itself from the U.S. and its financial system, and this is one of the reasons why the decision to dump U.S. debt holdings took place this year," Frolovskiy said. But there's a dissonance between what the Russian government wants and what Russian businesses want, Frolovskiy added, with Russian investors still interested in the booming U.S. economy. "Russian businesses have been and continue to remain interested in investing in the U.S. The American market is booming and there are lots of opportunities there, in particular for such companies as DST Global and in the hi-tech industry," Froloskiy said. RUSSIA will not support U.S. Trade Wars?!










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