The Russian government warned Friday that the global economy is in “turmoil” following President Trump‘s announcement of sweeping new tariffs on dozens of countries. Kremlin spokesperson Dmitry Peskov said the tariffs are unlikely to benefit Russia, which lacks substantial trade with the United States.
“We are witnessing a high level of turbulence in international markets,” Peskov stated. “It’s unlikely that these U.S. tariffs will be beneficial. The global economy is responding very emotionally.”
Trump this week announced a 10% universal tariff on all U.S. imports, along with higher rates—up to 50%—on specific countries. “The tariffs will not be a full reciprocal. I could have done that… but it would have been tough for a lot of countries,” Trump said Wednesday.
Markets reacted negatively, and several nations—including China—have announced retaliatory tariffs. China confirmed a 34% tariff on U.S. goods starting next week.
Still, Trump insisted Friday that now is a “GREAT” time to invest, and some business leaders voiced support for the tariffs, citing long-term benefits for American manufacturers.
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