Russia to impose duties on American goods after US sets metals tariffs

The tariffs will target goods that have domestic equivalents in Russia, and the move will not affect Russian macroeconomic performance, Russia's Economy Minister Maxim Oreshkin said.
The tariffs will target goods that have domestic equivalents in Russia, and the move will not affect Russian macroeconomic performance, Russia's Economy Minister Maxim Oreshkin said.PHOTO: REUTERS

MINSK (REUTERS) - Russia will impose import tariffs on certain goods from the United States in response to duties imposed by Washington on steel and aluminium imports, Economy Minister Maxim Oreshkin said on Tuesday (June 19).

The tariffs will target goods that have domestic equivalents in Russia, and the move will not affect Russian macroeconomic performance, Oreshkin said.

The measures will serve a "balancing" function, Oreshkin said, after Washington in March imposed tariffs of 25 per cent on steel and 10 per cent on aluminium, in a move mainly aimed at curbing imports from China.

Russia did not receive an exemption, as Argentina, Australia and Brazil did. Russian steel companies are trying to dispute the tariffs with the US Department of Commerce.

"Russia is using its rights at the World Trade Organisation and is introducing balancing measures on imports from the United States," Oreshkin said.

The list of goods will be set in the next several days, the economy ministry said.

"These measures will begin to be implemented in the form of additional import duties on American goods in the near future," Oreshkin said.

 

"They will only concern products that have equivalents on the Russian market and will not have a negative effect on macroeconomic indicators," he said.

Oreshkin made the comments during a visit to Minsk with a group of government officials led by President Vladimir Putin.