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    A delegate of the Russian delegation takes a seat prior to the start of a World Trade Organization ministerial meeting to give its second and final approval for Russia's membership in the trade body after a record 18-year quest to join, on December 16, 2011 in Geneva

    Russia Demands Compensation From US For Imposing Steel Tariffs - Reports

    © AFP 2018 / FABRICE COFFRINI
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    Russia, which is among the top exporters of steel and aluminum to the US, has fallen under US import tariffs alongside other major producers, like China and India.

    Russia has applied to the World Trade Organization (WTO) to demand the compensation from the US for tariffs on steel and aluminum, introduced by the country last month, Reuters reported Thursday.

    "Russia's has asked the WTO for consultation over tariffs, imposed by the US," Gennady Ovechko, Russia's permanent representative at the WTO, said. 

    China, India and the European Union have already applied to the WTO with the same demand.

    READ MORE: EU Mulls Joining US in Trade War With China in Bid to Ease Tariffs — Reports

    In March, Donald Trump opted for a trade offensive, imposing a 25 percent import tariff on steel and a 10 percent tariff on imported aluminum. Those tariffs are valid for all countries exporting their products to the US, however, the EU, Australia, Argentina, Brazil, Canada, Mexico and South Korea won exemptions until May 1.

    Following the announcement of the new tariffs, Russian Deputy Minister of Industry and Trade Viktor Evtukhov told Sputnik that Russia intended to negotiate with the US an exemption from the latter's tariffs on imported steel and aluminum as part of its response measures to Washington's decision.

    Russia is among the top exporters of steel and aluminum to the US. However, analysts have said the country's metal and mining companies face relatively little harm from any tariffs on steel and aluminum imports imposed by the US

    Related:

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    IMF Chief Warns World Trade in Danger of Being 'Torn Apart' Amid Tariff War
    US Tariffs to Have Limited Effect on China's GDP Growth, Exports - Moody's
    Tags:
    steel, aluminum, tariffs, World Trade Organization (WTO), Russia
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