Moscow drafts counter-tariffs on U.S. imports in response to Trump's steel and aluminium crackdown

Russia’s Economic Development Ministry announced on Tuesday that Moscow will impose a series of import restrictions on American goods in response to the Trump administration’s new tariffs on foreign steel and aluminum. In March and April, President Trump imposed 25-percent and 10-percent tariffs on steel and aluminum imports, respectively.

Russian officials say their counter-tariffs will cost the U.S. about $93 million, while Washington’s tariffs could inflict as much as $537.6 million in damage on Russia. “This is the amount up to which we have the right to impose balancing measures in additional customs duties,” a source in the Economic Development Ministry told the news agency Interfax.