India- Russia calls US tariff on steel and aluminium 'safeguard measure', demands compensation

2018-04-20 04:47:40

(MENAFN- KNN India) Russia calls US tariff on steel and aluminium 'safeguard measure', demands compensation

New Delhi, Apr 20 (KNN) Russia has demanded compensation from the United States for imposing global tariffs on steel and aluminium, calling the decision as a 'safeguard measure.

A statement from the World Trade Organization (WTO), circulated at the request of Moscow, called the decision as a "safeguard measure" that under WTO rules should trigger payments from the U.S. to major exporters.

Apart from Russia, China, India and the European Union have already described the U.S. tariffs as "safeguards."

On March 8, the U.S. imposed tariffs on imports of certain steel and aluminum products. The tariff increase was 25 per cent for some steel products and 10 per cent for aluminum products.

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