After the U.S. suspension of Normal Trade Relations with Russia and Belarus Act (NTR Act), which imposed higher tariff rates on Russian goods, Russian exporters suffered a 67.3 % decline in export value and a 62.3 % drop in export quantity. The effect was almost immediate (from March 2022) and prolonged at least until the third quarter of 2023. Moreover, there was a 16.6 % decrease in the number of U.S. importers and a 11.6 % reduction in the number of Russian exporters trading with the U.S. Small Russian exporters, especially those serving a limited number of U.S. importers and managing multiple products in the U.S. market, were most adversely affected. The study uses Bill of Lading (BoL) trade data and custom value data from the U.S. Census Bureau, in a difference-in-difference strategy across product category.
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