Russia introduces additional taxes on US goods: Report

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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.

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–IANS

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