Business
07:56, 06-Aug-2018
Russia levies new taxes on US goods
Updated
07:26, 09-Aug-2018
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Russia said it began imposing additional import tariffs of 25 to 40 percent for a range of US goods on Sunday.
Russian Prime Minister Dmitry Medvedev last month signed an order setting the new tariffs, stipulating that it would become effective 30 days after its official publication on July 6.
The tariffs are in retaliation to US extra tariffs of 25 percent on steel and of 10 percent on aluminum.
They apply to equipment for road construction, the oil and gas industry, metal processing machinery as well as fiber optics.
The volume of new Russian tariffs at the current stage will amount to 87.6 million US dollars a year, according to a previous statement by the Russian economic development ministry.
Source(s): Xinhua News Agency