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Russia hits China with trade tariffs (www.newsweek.com)

submitted 1 week ago by [email protected] to c/[email protected]

37 comments fedilink hide all child comments

Summary

Russia has imposed a 55.65% tariff on Chinese furniture sliding rail parts, previously exempt from duties, angering both Russian manufacturers and Chinese commentators.

Industry leaders warn the tariff could bankrupt importers, raise domestic furniture prices by 15%, and harm Russia’s furniture industry, which relies heavily on Chinese imports.

Critics note similar European imports face lower duties.

The move has sparked feelings of betrayal in China, despite booming bilateral trade reaching $240 billion in 2023.

The tariff comes amid U.S. sanctions and China’s critical role in supporting Russia’s economy during the Ukraine war.

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[–] [email protected] 16 points 1 week ago (1 children)

This is honestly a tiny tariff that has no real impact on trade between russia and China.

[–] [email protected] 38 points 1 week ago (1 children)

I agree with your logic and analysis.

However the non-tangibles here are pretty staggering - Russia is hugely dependent on China and India for exports (basically oil and gas) to raise cash and foreign currency. It also needs high tech goods from China - China provides drones, cars, bikes, clothes and more to support the invasion. And critically a lot of electronics, including those under sanctions being smuggled from the West.

Placing tariffs on China sends a strong negative message to China - it's a real slap in the face that will invite a pretty nasty punch back again.

What on earth motivated this?

[–] [email protected] 14 points 1 week ago (1 children)

This does seem very strange. I don't understand why they would even bother with such a specific, minor tariff.

Perhaps some senior goon (i.e. pretty close to putin, not just a regular oligarch or a regional fief) has money in the furniture business? Still I would imagine it would be easier to implement some sort of local subsidy or corruption scheme as opposed to a tariff against China. It just doesn't seem worth it.

[–] [email protected] 5 points 1 week ago

The article notes that Russia has no furniture slide manufacturing. That's what makes this tariff so baffling. Genuinely not sure why they would do this, there's no upside.