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Russia Imposes New Tariffs on US Products



Moscow on Friday imposed new customs duties on a group of US imports in response to US tariffs on steel and aluminum exports from Russia to the United States.

The new Russian tariffs are on US products with a Russian alternative, ranging from 25% to 40%.

“The new Russian measures are affecting US products, the equivalent of road construction equipment, oil and gas drilling and drilling, mineral processing equipment and fiber optic,” Russia’s Minister of Economic Development Maxim Ureshkin told Russian news agency Novosti.

The new fees are designed to compensate for Russia’s losses from US duties. In May, Moscow estimated losses of $ 537.6 million a year.