Russia Imposes Tariff on Chinese Imports

Russia has implemented a 55.65% tariff on certain Chinese furniture components, specifically sliding rail parts, raising concerns about the stability of the Sino-Russian alliance despite their close economic ties during Western sanctions. The tariff, affecting approximately 90% of Chinese furniture imports into Russia, could lead to bankruptcy for many importers and a price increase of at least 15% for domestic furniture, according to the Association of Furniture and Woodworking Enterprises of Russia. Industry leaders have criticized the decision, emphasizing Russia's reliance on these imports as they are not produced domestically. Chinese commentators have expressed outrage, viewing this move as a betrayal by an ally. Additionally, trade between the two nations has been robust, peaking at a record £240 billion in 2023, highlighting the contradictory nature of this tariff. The situation signifies potential strains in what was previously considered a 'no-limits' partnership.