Russia among countries hit by new US tariffs

The United States has introduced new tariffs on 60 trading partners, including Russia.

Source: an official announcement, as reported by European Pravda

Details: Countries targeted by the measures will face tariffs ranging from 10% to 12.5% on all goods, covering almost all US imports.

The tariffs, which replace similar duties set to expire on Friday 24 July are justified by claims that key trading partners have failed to take relevant measures to combat forced labour.

The announcement notes that Russia, among others, is subject to the US investigation into efforts to combat forced labour. Russia is listed among the countries subject to the 12.5% tariff rate.

The White House also says that US President Donald Trump has set a 10% tariff on goods from the European Union and imports from the United Kingdom will be subject to a general 10% tariff in addition to duties already applied to certain products.

Background:

• In early June, it emerged that the US administration was planning to introduce new tariffs on Washington's major trading partners, including the European Union and Canada, over concerns about forced labour.
• The European Commission subsequently criticised the US plans to impose new 10% tariffs on goods from the EU.
• On 24 July, the European Commission took note of the United States' publication of its final measures under the investigation into the failure to address trade in goods produced using forced labour.

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