Last Update 22:52
Sunday, 23 September 2018

Russia introduces additional taxes on some US goods amid steel tariffs: Ministry

Sputnik , Friday 6 Jul 2018
Maxim Oreshkin
Russian Minister of Economic Development Maxim Oreshkin (Photo: Reuters)
Share/Bookmark
Views: 2163
Share/Bookmark
Views: 2163

In June Russia filed a complaint to challenge the US metal tariffs with the World Trade Organization (WTO), requesting consultations with Washington under the organization's dispute settlement procedures.

Additional taxes ranging from 25% to 40% on certain goods produced in the US have been introduced by Moscow in response to the US aluminum and steel tariffs, the Economic Development Ministry of Russia announced in a statement.

The ministry also noted that Russia and other members of the WTO, including China, the EU, India, Mexico, Norway and Canada have already filed complaints with the organization against the United States.

According to Minister of Economic Development Maxim Oreshkin, Russia plans to tax $87.6 million worth of annual imports from the US, while the remaining taxes could be applied within three years in order to compensate for the $537.6 million that Russian exporters have lost due to tariffs in the US.

A 10 percent tariff on aluminum imports and a 25 percent tariff on steel imports, originally imposed by President Trump in March, were temporarily suspended for some states, including Mexico, Canada and the European Union in order to attempt to negotiate a better deal, but the suspension was later revoked.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.