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Russia Will Cope with U.S. Tariffs on Steel and Aluminum Products

Dong Xing Dong Xing 2018-06-25 11:37:20

Russian Ministry of Economic Development (data plan)

According to reports from the Russian Satellite Network, Maxim Oleskin, Minister of Economic Development of Russia stated that Russia will take balanced measures on commodities imported from the United States in the near future in order to respond to the United States tariff on steel and aluminum products.

Oleskin said that given the United States continues to adopt protective measures, it imposes additional tariffs on imported steel and aluminum products and refuses to compensate Russia for the losses suffered. Russia will use the rights granted by the WTO to take balanced measures on goods imported from the United States.

In addition, AFP reported that according to a Russian government’s document issued on May 21st in the World Trade Organization, Russia may impose a retaliatory tariff of approximately US$540 million on U.S. products in response to the US’s tariff on imported steel and aluminum.