Russia introduces additional taxes on US goods: Report
Friday - July 6, 2018 8:44 pm ,
Category : BUSINESS
Moscow July 6 (IANS) Russia is taxing $87.6 million worth of certain US imports for the coming year in response to Washington s steel and aluminium import tariffs media reports said on Friday.
"Compensation measures are applied in the form of additional raised import tax rates in the amount of 25 per cent or 40 per cent of the value of the imported goods " Russian Economic Development Minister Maxim Oreshkin said in a statement reported Sputnik news agency.
"They will apply to certain US goods if comparable goods are manufactured in Russia " he said.
The minister said the extra duties will involve oil and gas industry equipment construction equipment metalworking and optic fibre.
In May Russia notified the World Trade Organization about possibly imposing duties amounting to $537.6 million a year on US goods.
--IANS soni/vd
"Compensation measures are applied in the form of additional raised import tax rates in the amount of 25 per cent or 40 per cent of the value of the imported goods " Russian Economic Development Minister Maxim Oreshkin said in a statement reported Sputnik news agency.
"They will apply to certain US goods if comparable goods are manufactured in Russia " he said.
The minister said the extra duties will involve oil and gas industry equipment construction equipment metalworking and optic fibre.
In May Russia notified the World Trade Organization about possibly imposing duties amounting to $537.6 million a year on US goods.
--IANS soni/vd
