Russia’s economic development minister revealed Tuesday that his government was prepared to side with China in a burgeoning global trade war with the U.S.
President Donald Trump’s protectionist trade policies have led China and the European Union to hit back at new U.S. tariffs intended to discourage foreign purchases of steel and aluminum. As a result, the Russian minister, Maxim Oreshkin, said Moscow would assert its rights as guaranteed by the World Trade Organization (WTO) to retaliate with duties against U.S. imports.
“Due to the fact that the U.S. continues to apply protective measures in the form of additional import duties on steel and aluminum and refuses to provide compensation for Russia’s losses, Russia is using its WTO rights and introducing balancing measures with respect to imports from the United States,” Oreshkin said, according to Russian newspaper Kommersant.
Oreshkin noted that such measures will affect only products that “have alternatives within the Russian Federation” and that the final list would be announced by his ministry in the coming days. While declining to go into specifics, he said the duties would not include medicines but may include construction products.