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Proc 10523ProclamationBiden · D Quiet signal

Proclamation 10523

Increasing Duties on Certain Articles From the Russian Federation

This proclamation increases U.S. tariff rates on certain Russian imports to 35% or 70% ad valorem under column 2 of the Harmonized Tariff Schedule, building on prior trade restrictions. The new rates apply to additional products not already banned by prior executive orders, and raise some existing 35% rates to 70%, effective April 1, 2023.

Federal Register Open PDF 88 FR 13277

Impact dates

  1. Tariff modifications effective for goods entered for consumption or withdrawn from warehouse

Key directives

  • Increase column 2 duty rates to 35% ad valorem on certain additional Russian products
  • Increase column 2 duty rates to 70% ad valorem on certain other additional Russian products
  • Raise existing 35% rates to 70% on certain products covered by Proclamation 10420
  • Modify HTSUS subdivision (b) to U.S. Note 30 and establish new HTSUS heading 9903.90.09
  • Monitor implementation and revisit determination as appropriate

Timeline

Immediate

  • Proclamation signed February 24, 2023

Near term (90d)

  • Tariff increases take effect April 1, 2023

Long term

  • Ongoing monitoring of implementation
  • Potential future revisions to determination

Risks & tensions

  • Further escalation of U.S.-Russia economic confrontation
  • Potential supply chain disruptions for U.S. businesses reliant on affected Russian imports
  • Inflationary pressure on U.S. consumers from higher import costs
  • Russia may retaliate with countermeasures against U.S. exports
Proclamation 10523: Increasing Duties on Certain Articles From the Russian Federation · Executive Orders