Trump waives 500% Russia tariffs as October 18 oil purchase deadline arrives
In brief
- Trump's October 16 order waived new Russia-linked duties ahead of the October 18 condition date.
- The order set 500% duties on Russian goods and 100% duties on two country groups.
- The waivers have no fixed expiry, and the order names no countries.
- CryptoSlate argues the waiver could ease one source of funding pressure on Bitcoin.
What the order sets out (and waives)
The order specifies additional duties of 500% on Russian goods and 100% on goods from two country groups, according to CryptoSlate's reporting. The first group is the five largest Russian oil and gas importers making new purchases on or after October 18. The second is the top five facilitators of Russian oil sanctions evasion.
It doesn't name a single country in either group.
Exceptions apply, and the same order waives the duties. Those waivers don't carry a fixed expiry (they stay effective until the president or secretary of state determines further action is appropriate). Measures under earlier executive orders on the Russian harmful-foreign-activities emergency are preserved, including those against persons already sanctioned. The order also directs the US trade representative and other officials to monitor Russian energy purchases and sanctions-evasion facilitation.
Why CryptoSlate ties it to Bitcoin
CryptoSlate's September 19 report had framed October 18 as an implementation test and flagged waivers as a possible limit on the shock. Its latest analysis says keeping the new duties waived could limit an additional tariff and energy-inflation shock, easing one source of funding pressure on Bitcoin.
The backdrop comes from two separate places. Federal Reserve Governor Christopher Waller, in an October 8 speech that predates the order, cited elevated energy costs and threatened new tariffs among persistent inflation pressures, and said he anticipated further interest-rate increases if incoming data continued as expected (he stressed these were his own views). Separately, BIS Working Paper 1219, published in October 2024, found US monetary-policy tightening weakened crypto prices and reduced stablecoin market capitalization.
What to watch
CryptoSlate pointed to two signals: changes to the waivers, and whether renewed trade pressure reaches energy prices, inflation expectations or financing conditions. Since there's no expiry date in the text, the first one can shift at the discretion of the president or secretary of state, and it's the one worth tracking.
Frequently asked questions
When does the waiver on the new Russia tariffs expire?
It doesn't have a fixed expiry, according to CryptoSlate's reporting on the October 16 order. The waivers remain effective until the president or secretary of state determines further action is appropriate.
Which countries does the order target?
The order names no countries. It defines two groups: the five largest Russian oil and gas importers making new purchases on or after October 18, and the top five facilitators of Russian oil sanctions evasion. Goods from those groups face 100% duties, which the same order waives.
Why does CryptoSlate connect the waiver to Bitcoin?
CryptoSlate's analysis says keeping the duties waived could limit an additional tariff and energy-inflation shock, easing one source of funding pressure on Bitcoin. It points to BIS Working Paper 1219, which found US monetary-policy tightening weakened crypto prices and reduced stablecoin market capitalization.
