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RUSSIA LAUNCHES TARIFFS ON U.S. AS KREMLIN CALLS TRUMP’S MOVE ‘PROTECTIONIST’
Russia has raised tariffs on a handful of U.S. imports after the Kremlin condemned President Donald Trump’s tariffs on foreign steel and aluminum as protectionist.
Speaking as Moscow approved new restrictions on U.S. road construction equipment, oil and gas equipment, metal processing and rock-drilling tools, as well as optic fiber, Russian Economic Development Minister Maxim Oreshkin said the move was a response to U.S. tariffs.
The U.S. move stems from a decision by Trump in March to charge Russia, and also Canada, the European Union, Mexico and others, more money to import steel and aluminum into the U.S. for "national security" reasons.
“The compensatory measures are applied in the form of additional increased rates of import duties in the amount of 25 to 40 percent of the value of the imported goods,” Oreshkin said on Friday, according to Russian business newspaper Vedomosti.
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