Russia Joins Global Trade War - Imposes Tariffs On US Energy, Mining Imports

Whether this is a coordinated response is unclear - and certainly on a much smaller scale - but Bloomberg reports that Russian Prime Minister Dmitry Medvedev signed a decree this morning imposing higher tariffs on U.S. products in retaliation for U.S. duties on metals imports, according to Economy Ministry statement.

Reuters reports that Russia's additional duties will apply to imports of fiber optics, equipment for road construction, oil and gas industry, metal processing and mining, according to an economy ministry statement.

Russia will impose duties on goods which have Russian-made substitutes, Economy Minister Maxim Oreshkin is quoted as saying in the statement.

The compensation measures will be applied in the form of additional, higher rates of import duties ranging from 25% to 40% of the price of imported goods. Duties will be imposed on some U.S. goods, the analogues of which are produced in Russia. In particular, the measures cover some types of road construction equipment, oil and gas equipment, metalworking machines, rock drilling equipment, and optical fiber,” Minister Maxim Oreshkin said as quoted by the ministry.

“The financial damage inflicted on Russian exporters by the U.S. trade restrictions amounts to $537.6 million. This is the amount of additional duties that Russian suppliers have to pay in the U.S.

The current increase of duties allows us to compensate for only part of the damage amounting to $87.6 million. This is compensation that Russia has the right to recover under the WTO rules,” he said.

Russia will be able to compensate for the remaining part in three years since the introduction of the U.S. duties or after approval of the WTO dispute settlement body if it finds the U.S. restrictions violating the organization’s rules, the ministry said.

Makes you wonder how long Russia will stay with WTO - just like Trump - if this is all the response "you're allowed."

Shots fired...

Comments

Free This pods Fri, 07/06/2018 - 09:43 Permalink

Let the games begin, this ought to get interesting, place your bets, the casino is now open for bidness!

China and Russia will get creamed, and there will be pain here too.

No one goes unscathed, know that much. Carry on.

Sic Semper Tyrannis

 

EDIT - Ohhhh, I said the C and R words, so I must be punished ROFLMFAO, incredible.

In reply to by pods

107cicero Boing_Snap Fri, 07/06/2018 - 10:33 Permalink

I tend to agree with you.  Pearl Harbor attack in 1941 was a function of the US embargoing SE Asian (Brunie etc) oil exports to Japan in 39-40..

For the expansionist Japan their only hope was a successful surprise attack.  Pearl Harbor didn't go that well, they had bad luck at Midway.......but they had no chance at all without a steady energy supply.

In reply to by Boing_Snap

Stuck on Zero paperstreetsoapco Fri, 07/06/2018 - 12:48 Permalink

Was the US supposed to keep supplying Japan with oil while Japan was raping Asia? Millions of Chinese exterminated. Biological, starvation, and chemical attacks. Japan had announced plans to attack, conquer, and exterminate everyone in the Western Pacific. And people somehow feel the US caused the problem by no longer shipping them oil after the Rape of Nanking?

In reply to by paperstreetsoapco

JohninMK Free This Fri, 07/06/2018 - 10:05 Permalink

" The answer is more complicated than "yes or no" black and white type of answer, IMO.  The GBO (global bankster oligarchs) having varying degrees of control over different countries, and in different ways."

By strange co-incidence the perceptive Australian journalist based in Moscow, who delves into the fog that is power there, has just published this, which answers it in a bit more detail.

As I read it he is basically saying that Putin and the oligarchs, who have a significant amount of Russia's assets overseas and were allowed to do that during Putin's reign, want a deal with Trump and by implication the banksters. Whilst the other power base, the military, don't trust a word the US says. A bit long but definitely worth the read.

http://johnhelmer.org/?p=17802#more-17802

In reply to by Free This

geno-econ Free This Fri, 07/06/2018 - 10:06 Permalink

Caterpillar will lose a lucrative market and possibly John Deere if tariffs increased on farm equipment.  Does Trump, Kudlow, Navarro and Ross know what they are doing or shooting from the hip or playing to their base for Nov. Congressional elections ???   U.S. Chamber of Commerce which represents multi national corporations believe he does not, and stated it would lead to his impeachment.  We will know by the end of 2018.

In reply to by Free This

sessinpo robertocarlos Fri, 07/06/2018 - 11:57 Permalink

robertocarlos geno-econ Fri, 07/06/2018 - 10:59 Permalink

Canada makes farm equipment that can be sold to Russia

-------

I are assuming Russia has no means to modern farming without john deere, catapillar or equipment from Canada?

Agromash 85tk

Alttrak | Алттрак

CamTZ | КамТЗ

Петра ЗСТ | Peter ZCT

Кировец К-9000 | Kirovets K-9000

https://www.youtube.com/watch?v=OET6AFtJsms

In reply to by robertocarlos

Scipio Africanuz geno-econ Fri, 07/06/2018 - 13:57 Permalink

Like I've said, let every nation tariff all tariffable nations, then keep ramping up, till the string pullers scream in agony, and sense prevails! We need to find out who's benefitting from globalism and tariffs are just the tool for obtaining that revelation.

There'll be pain of course, and it seems Trump has finally convinced himself of the necessity of the jailbreak, even if it hurts. Americans need to know who sold them out, and soon, we'll find out!

Remember the promise to bring jobs back? That's exactly what's going on, he's gonna make em bring them back, when externally induced pain becomes unbearable. He's not gonna back down, and China is not gonna either. The battle really, is for repatriation of US corporations. They'll come back eventually, like it or not.

There'll be pain all round as the foundations of a more just system are laid...

In reply to by geno-econ

divingengineer Scipio Africanuz Fri, 07/06/2018 - 14:32 Permalink

Tariff everything or tariff nothing.

No more one sided tariffs.

Dont like it?

Fine, then don’t trade with us.

1200% tariff on any imported goods with any trace of plastic, metal or wood in them.

100% tariff on imported food. 

10,000X tariff on any product that has a tariff placed on its US counterpart.

They wanna get crazy? 

Lets get fucking crazy!

In reply to by Scipio Africanuz

paperstreetsoapco Free This Fri, 07/06/2018 - 10:45 Permalink

When asked if he was a fascist, Mussolini said, "the better description is Corporotist".

 

So fine, drumpf is a "Corporotist".

 

This means he will enrich the elite and their corporate entities at your expense.

 

The feudal system is coming back with a vengeance, and all of you drumpf supporters cheer it on.

 

Fuck drumpf, Fuck Obama, Fuck Clinton's, Fuck Bush's.

 

Ron Paul!!!

In reply to by Free This

karenm DingleBarryObummer Fri, 07/06/2018 - 12:45 Permalink

No Dingleberry, they all are under the authority of the Bank for International Settlements and all CEO's of central banks meet there to create the global plan.

No idea where you got your info, but understand there are countless propagandists who run "alternative media" and their guests who supposedly tell it like it is are all disinfo agents.

The conspiracy is FAR bigger than most dare to imagine, but when a group has had control of the printing presses and banks for hundreds of years, contemplate how easy it is for them to put out disinformation through agents who ask for little more than 50K per year. 

In reply to by DingleBarryObummer

paperstreetsoapco 666D Chess Fri, 07/06/2018 - 09:29 Permalink

I'll put it this way.

 

I know someone who came up through army intelligence in the 70's & 80's, went to Russian schools in the US to learn Russian from Russians.  He was stationed at the east Germany border.  He has mid level kgb contacts.

 

When Putin speaks, the kgb agent standing behind him is the one confirming Putin follows his orders...

 

Guess what, the US president has a similar CIA agent standing behind him, ensuring the same thing....

In reply to by 666D Chess

RationalLuddite paperstreetsoapco Fri, 07/06/2018 - 09:47 Permalink

paperstreetsoapco - I call utter, insecure, horseshit, good Sir. 

Please tell the ZH audience - how exactly is your theory falsifiable?  Tell us how we test your theory and how it can be proven false?

 

I don't know about you, but Putin taking back Jacob Rothschild's controling 8 billion Euro in shares in Yukos Oil, and Puti's single handedly fucking over the Greater Israel project would be two pieces of troubling evidence for your hypothesis off the top of my head. Or is it deep 12D chess quadruple bluff, putting the world off guard by looking pummeled? 

Please - tell us how your hypothesis is falsifiable? aside from your grey propaganda "trust me - i know a KGB guy" rock solid evidence, of course  ... Holy fuck

In reply to by paperstreetsoapco