WASHINGTON, Nov 10 (Reuters) – America will now not deal with Russia as a market economic system nation, the Commerce Division stated on Thursday, revoking the standing granted 20 years in the past that restricted the calculation of anti-dumping duties on Russian items.
The Commerce Division stated its evaluation discovered “in depth” authorities involvement within the Russian economic system had led to distorted costs and prices, which it stated didn’t precisely replicate whether or not Russian firms had been pretty pricing imports into the US.
“This resolution offers the US the power to use the total pressure of the U.S. anti-dumping regulation to handle the market distortions brought on by growing interference from the Russian authorities of their economic system,” the Commerce Division stated in a press release.
Washington granted Russia market economic system standing in 2002, an important step for Russia’s admission to the World Commerce Group (WTO) in 2012.
Final yr, the American Chamber of Commerce in Russia stated that Moscow would have the ability to problem any U.S. resolution to strip Russia of its market economic system standing on the WTO.
Nevertheless, Moscow’s relations with the West have dramatically deteriorated since Russia’s invasion of Ukraine.
America, together with different Western nations, have imposed broad sanctions supposed to chop Russia off economically after Moscow despatched troops into Ukraine in February in what it calls a “particular army operation”.
Reporting by Katharine Jackson in Washington and Ismail Shakil in Ottawa, Enhancing by Rosalba O’Brien
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