Alexander Firanchuk and Gasan Ramazanov on US import duties on steel and aluminum

Implications from duties introduced by US President Donald Trump on all imports of steel and aluminum to the United States will in no way hit Russian suppliers as such supplies do not actually exist, Gaidar Institute experts, Alexander Firanchuk and Gasan Ramazanov told ТАSS Russian News Agency.

«Russia has recently stopped supplying these metals to the US market, so the impact on Russian metal producers will be very indirect and most likely result in a slight depreciation of global prices," said Alexander Firanchuk, Senior Researcher of the International Trade Department at the Gaidar Institute.

Gasan Ramazanov, an expert at the Gaidar Institute, added that over the past 30 years the volumes of Russian aluminum exports to the United States have been at an all-time low. According to Trading Economics’ data, the value of Russian aluminum exports to the United States was equal to $2.3 mn in 2024.
«In 2024, the overall value of Russian steel supplies to the United States amounted to $13.1 mn, which is also a 30-year record low in the US-Russian trade relations. Consequently, no impact from US import duties on steel and aluminum will be felt by Russian suppliers," Gasan Ramazanov concluded.

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Tuesday, 11.02.2025