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Russia To Retaliate Against U.S. Steel, Aluminum Tariffs

Russian Minister of Economic Development Maksim Oreshkin (file photo)
Russian Minister of Economic Development Maksim Oreshkin (file photo)

Russia's economy minister has said Moscow will retaliate against the United States for tariffs it imposed on imports of steel and aluminum.

In a statement on June 19, Economic Development Minister Maksim Oreshkin said additional tariffs will hit a range of U.S. imports to Russia.

"Russia is using its rights at the World Trade Organization and is introducing balancing measures on imports from the United States," he was quoted as saying.

He did not specify which imports, but said it would include those that have domestic equivalents to avoid hurting the Russian economy.

A list will be released in the coming days, the ministry said.

Washington imposed tariffs of 25 percent on steel and 10 percent on aluminum in March, citing national security reasons. The White House said the move was aimed at limiting imports from China.

President Donald Trump later temporarily exempted Canada and Mexico, along with Brazil and South Korea.

Several Russian industrial conglomerates own steel-production facilities in the United States, including NLMK, Evraz, and Rusal. Another, Severstal, has filed a lawsuit with the U.S. Commerce Department over the tariffs.

Based on reporting by AP, Reuters, and Interfax