The US cancels Russia’s market economy status
United States in November 10the market economy status of Russia in cancellation did. This means the tightening of trade measures between Moscow and Washington and the straining of relations.
20 status granted a year ago Russia limited the calculation of anti-dumping duties on its goods.
After this USAfinancial institutions will treat Russia as a country with a non-market economy.
USA Department of Commerce Russia said that it revealed “extensive” government interference in the economy, which led to price and cost distortions.
“This decision allows the United States to Russia fully enforce its anti-dumping law to correct the market distortions caused by its government’s increased interference in its economy.” – Department of Commerce said in a statement.
Washington gave Russia market economy status 20It was given in 2002. This was the main step towards the admission of Russia to the World Trade Organization (WTO) in 2012.
Until then, Russia was considered a country with a non-market economy, anti-dumping duties were high, and exporters could not defend their interests.
The American Chamber of Commerce in Russia said last year that Moscow USAwill be able to challenge any decision on depriving Russia of its market status in DDT.
Since Moscow launched an attack on Ukraine at the end of February this year, its relations with the West have deteriorated dramatically.
The United States and other Western countries have imposed extensive sanctions on Russia and tried to reduce the financing of Moscow’s military machine.
Russia, which began to invade Ukraine, lost a number of international statuses, including observer status to the Organization of American States.