Russia joins China, will take retaliatory steps against US tariffs

European Union, India, China and Russia all have applied to the WTO to challenge the US tariffs on steel and aluminium that took effect on March 23

Russia on Tuesday announced retaliatory measures in response to the US move to impose tariffs on foreign steel and aluminium.

Economic Development Minister Maxim Oreshkin said in a statement that Moscow has decided to apply retaliatory measures in line with the World Trade Organisation's rules to compensate for damage incurred by the US tariffs.

Oreshkin said that additional tariffs will be applied to a range of US imports, but he declined to immediately name them, saying his ministry will release the list in the coming days.
 

He added that the tariffs will be applied to the US goods that have domestic equivalents to avoid hurting the national economy.

 

Oreshkin later told reporters that tariffs may apply to road construction equipment and some other items, but will not target medicines, according to Russian news agencies.

The European Union, India, China and Russia all have applied to the WTO to challenge the tariffs that took effect on March 23.

Washington argued they were for national security reasons.