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US increases tariffs on steel products to 70%, effective from Apr 1
Issued at 2023-03-06
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The US government imposed higher tariffs on steel and aluminum imports from Russia in response to Russia's continued invasion of Ukraine, hoping to pressure Russia’s economy.
The tariffs on 100 different products, including iron and steel products, copper, pig iron, and aluminum, will be doubled, from 35% to 70%, effective from April 1, 2023. The move will make Russia’s products exported to the US market less competitive.
The US raised the column 2 tariff rate to 35% on certain Russian metal products in June last year, excluding pig iron at that time.
Source: yieh.com
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