Russia introduces additional taxes on US goods

Russia said on Friday it will impose additional import duties on some US industrial goods after the US slapped tariffs on steel and aluminum imports.

The economy ministry said Russia will impose extra tariffs on some goods from the US for which there are Russian-made substitutes. The extra duties of 25 to 40 percent will apply to imports of fibre optics and equipment for road construction, the oil and gas industries and metal processing and mining. The measures, signed by Russian Prime Minister Dmitry Medvedev, were intended to compensate for $87.6 million of damage suffered by Russian export-focused companies as a result of the US metals tariffs.

Source: VOV5