Russia imposes new tariffs on US goods

Added On August 7, 2018

 Russia has started imposing additional import tariffs on a range of U.S. goods.

According to the Russian government, the tariff rates vary from 25 to 40 percent.
The new tariffs, which became effective as of Sunday, are in retaliation for additional U.S. tariffs. In March, The trump administration imposed 25 percent tariffs on steel and of 10 percent on aluminum.
The new Russian tariffs apply to equipment used for road construction, the oil and gas industry, metal processing machinery, and fiber-optics.
The volume of new Russian tariffs at the current stage will amount to 87.6 million U.S. dollars a year.