Russia attacked in a trade war against the United States

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Photo: Pavel Lisitsyn / RIA Novosti

The Russian government has approved the introduction of protective duties against the United States by raising tariffs on some goods. This was reported by the press service of the Ministry of economic development. The corresponding decree was signed by Prime Minister Dmitry Medvedev.

The restrictions will affect construction and road machinery, equipment for oil and gas industry and metallurgy, as well as fiber. The fees will range between 25 to 40 percent, additional income from fees will account for 87,6 million dollars a year.

“Compensatory measures are applied in the form of additional elevated rates of import duties in amount of from 25 to 40 percent of the value of the imported goods. They will be subject to certain US goods, if their analogues are produced in Russia. In particular, under the arrangements subject to some types of road construction equipment, oil equipment, tools for metal and rock drilling, and fiber optics”, is given in the message words of the Minister of economic development Maxim Oreshkin.

In addition, the authorities intend to initiate international litigation against the United States under the world trade organization (WTO), the results of which against US may introduce new fees, already at $ 450 million per year. The Russian actions were a mirror response to the American duties on shipments of steel and aluminum in the amount of 25 and 10 percent, respectively. Russia’s losses from the us duties are estimated to 537,6 million dollars a year.

Video, photo All from Russia.

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