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And the trade between Russian and the US economies where Moscow says it may impose retaliatory tariffs of nearly 540 million U.S. dollars on American goods in response to US duties on steel and aluminum. That's according to a document Russia circulated Tuesday at the World Trade Organization. Russia began a challenge of the American tariffs at the WTO last month but the document now qualifies the challenge as quote safeguard measures.
Russia says that means that international trade rules allow it to quickly apply tariffs on an equivalent amount of U.S. goods. Russia calculated that the US tariffs of 25 percent on steel and 10 percent on aluminum were worth nearly five hundred and thirty-eight million U.S. dollars. The Russian document said 30 days notice would be provided on which goods would be subject to the increased duties. It also states that the tariffs would remain in effect until the U.S. withdrew its additional steel and aluminum tariffs.
