US revokes Russia’s market status

Says extensive government involvement in the Russian economy had led to distorted prices and costs

WASHINGTON:

The United States will no longer treat Russia as a market economy country, the Commerce Department said on Thursday, revoking the status granted two decades ago that limited the calculation of anti-dumping duties on Russian goods. The Commerce Department said its analysis found extensive government involvement in the Russian economy had led to distorted prices and costs, which it said, did not accurately reflect whether Russian companies were fairly pricing imports into the United States. “This decision gives the United States the ability to apply the full force of the US anti-dumping law to address the market distortions caused by increasing interference from the Russian government in their economy,” the Commerce Department said in a statement.

Published in The Express Tribune, November 12^th, 2022.

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