This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/437147-us-files-wto-lawsuit-russia/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| US files WTO lawsuit against Russia over import taxes on American goods | US files WTO lawsuit against Russia over import taxes on American goods |
| (35 minutes later) | |
| Washington has filed a complaint with the World Trade Organization (WTO) against tariffs imposed by Moscow on some US imports, the trade body confirmed on Wednesday. | Washington has filed a complaint with the World Trade Organization (WTO) against tariffs imposed by Moscow on some US imports, the trade body confirmed on Wednesday. |
| In July, Russia raised tariffs from 25 to 40 percent on a number of US products in response to Washington’s levies on Russian steel and aluminum. Moscow appealed to the WTO to resolve the metal tariffs dispute. | In July, Russia raised tariffs from 25 to 40 percent on a number of US products in response to Washington’s levies on Russian steel and aluminum. Moscow appealed to the WTO to resolve the metal tariffs dispute. |
| Russia's retaliatory measures, targeting $87.6 million worth of US goods, covers just a minimal part of Russia’s estimated losses of $450 million due to US metal tariffs. They include certain types of road construction machinery, oil and gas equipment, metalworking and rock drilling tools as well as optical fiber. | |
| Moscow will reportedly impose further tariffs on $450 million worth of US imports if the WTO rules the US tariffs are illegal. Under the current rules, the $87.6 million in tariffs is the maximum amount a country can levy without the WTO decision. | |
| Earlier this year, the White House slapped a number of countries with tariffs of 25 percent on imported steel and 10 percent on imported aluminum. Washington explained the move was due to national security concerns. However, several countries affected by the levies have launched WTO complaints, accusing the US of protectionism. | |
| Apart from the trade dispute, Moscow and Washington are involved in the worst diplomatic crisis since the Cold War. Over recent years, the US has imposed several rounds of of sanctions against Russia over a number of accusations. They include involvement in the conflict in eastern Ukraine, reunification with Crimea, alleged US elections meddling, purported violation of sanctions against North Korea and claimed nefarious activity in cyberspace. | |
| Moreover, the US State Department has recently issued a ban on issuing loans to Moscow, and US exports of weapons and dual-use products to Russia. The measure reportedly came amid Russia’s alleged involvement in poisoning of the former double-agent Sergei Skripal in the UK back in March. | |
| For more stories on economy & finance visit RT's business section |