Russia demands compensation for US steel tariffs

Aaron Josefczyk | Reuters

A worker cuts a steel coil at the Novolipetsk Steel PAO steel mill in Farrell, Pennsylvania, March 9, 2018.

Russia has demanded compensation from the United States for its decision to impose global tariffs on steel and aluminum.

A statement from the World Trade Organization (WTO), circulated at the request of Moscow, describes Donald Trump administration’s decision as a “safeguard measure” that under WTO rules should trigger payments from the U.S. to major exporters.

China, India and the European Union have already described the U.S. tariffs as “safeguards.”

On March 8, the U.S. imposed tariffs on imports of certain steel and aluminum products. The tariff increase was 25 percent for some steel products and 10 percent for aluminum products.