Voices from Russia

Saturday, 23 June 2018

Kommersant: Russia to Side with Europe and China in Coming Global Trade War

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Economic Development Minister Maksim Oreshkin noted that Russia is likely to take part in the global trade war that’s gradually gaining momentum. Taking a cue from China and the EU, Russia will raise tariffs on imported US goods in response to Washington’s protective measures concerning steel and aluminium supplies. The tariff row is unlikely to fade away until the US Congress elections scheduled for November. Other countries announced tit-for-tat measures as well. China filed a WTO complaint and increased duties on US imports worth 3 billion USD (188.92 billion Roubles. 19.52 billion Renminbi. 203.6 billion INR. 3.99 billion CAD. 4.03 billion AUD. 2.57 billion Euros. 2.26 billion UK Pounds). The EU, Canada, and Mexico published their own lists of increased tariffs after Washington extended its steel and aluminium duties to them on 1 June. Sergei Afontsev, Head of the Economic Theory Department at the Institute of World Economy and International Relations, said:

According to WTO rules, the countries affected by unjustified trade restrictions have the right to take tit-for-tat measures without waiting for the results of their WTO complaints. Concerning US steel and aluminium tariffs, that’s what India did a few days ago; we expect a relevant EU decision. Russia will follow the global trend. If the USA is willing to begin a dialogue, the parties could discuss the mutual damage, but this could take two or three years. A trade war between the USA and China is a very real threat. To date, both parties seem to be willing to raise the stakes by increasing duties and extending them to new groups of goods. Where the limits of such escalation are, and whether they exist at all, is a big question. This is a fundamentally new situation in global trade.

20 June 2018

TASS

http://tass.com/pressreview/1010251

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Friday, 22 November 2013

22 November 2013. Have A Cleansing Laugh… “Paper Has A Grand Future”

00.0d Laughing Animals. 08.06.12. Gorilla

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Have a laugh, you need it…

BMD

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