US to raise tariffs on certain imports from Russia, including steel & aluminum
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Update time : 2022-06-30 21:52:01
On June 27, the US announced to raise tariffs on certain imports from Russia, starting from July 27. The US will primarily impose a 35% tariff rate on more than 570 groups of Russian goods worth around US$2.3 billion.
Among them, the tariffs on aluminum imports will be raised from 10.5%-11.0% to 35%, while the details haven’t been released.
The products that might be subject to new tariffs include steel and aluminum, minerals, ores, metals, chemicals, arms and ammunition, wood and paper products, aircraft and parts, as well as automotive components.
After the adjustment, the US tariffs on Russian aluminum imports would soar more than three times to 35%, affecting unalloyed primary aluminum (P1020, purity, off-grade ingot) and value-add aluminum products (billet, slab, foundry, and wire rod).
After the US stopped normal trade relations with Russia this April, the US started to impose punitive tariffs of 10.5% on P1020 and 11% on value-add products.
