Medvedev warns of global fallout from new US tariffs
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Dmitry Medvedev warned of severe repercussions for the European economy, predicting it could face collapse under the strain of the expanding trade war.
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Russian Security Council Deputy Chairman and the head of the United Russia party Dmitry Medvedev speaks to members of United Russia political party, the largest party in Russia celebrating its founding day in Moscow, Russia, Thursday, Dec. 1, 2022 (Ekaterina Shtukina, Sputnik Pool Photo via AP)
The United States' sweeping imposition of tariffs is set to have far-reaching effects on global trade, Russian Security Council Deputy Chairman Dmitry Medvedev said Thursday, as international backlash to the measures continues to escalate.
In a statement posted on Telegram, Medvedev condemned the latest US trade move under President Donald Trump's leadership, warning it would send shockwaves through the international economic system.
"[US President Donald] Trump has put the global trading system in a very difficult situation by imposing tariffs on almost the entire world. The consequences will be global," Medvedev wrote. "Old trade chains will be broken, but new ones will arise."
His comments come in the wake of Trump's announcement of a base 10% tariff on all imports and additional reciprocal tariffs targeting countries that impose duties or barriers on US goods. The move, described by Trump as a celebration of "Liberation Day," has already drawn strong reactions from global powers, including China and the European Union, both of which have vowed retaliation.
EU Commission President Ursula von der Leyen called the measures potentially "dire for millions of people around the globe" and confirmed that the bloc would respond with its own tariffs if negotiations fail. China, meanwhile, has sharply criticized the policy, accusing the US of undermining years of multilateral agreements and threatening to enact countermeasures of its own.
Read more: Trump tariffs spark trade war, China and EU retaliate
Amid this intensifying trade dispute, Medvedev noted that Russia has continued to perform well economically despite ongoing Western sanctions. He reported a 3% growth in GDP during the first quarter of 2025.
"In the first quarter of 2025, the growth is about 3%," he said.
In response to the US tariffs, Medvedev indicated that Russia would not remain passive.
"Reciprocal tariffs will be imposed on goods from the United States," he stated, aligning Russia with the growing list of countries preparing counteractions.
He also warned of severe repercussions for the European economy, predicting it could face collapse under the strain of the expanding trade war.
