Ukraine has told its trading partners it wants to raise maximum tariffs on hundreds of imported goods, a move that could unleash protectionist forces and may even pose a threat to the $18 trillion global trade system.
In a document marked "secret" sent to members of the World Trade Organization last week, Ukraine says it intends to raise the limit on the tariffs it can legally impose on more than 350 goods. Based on figures in the proposal, Kiev's plan would hit overall imports worth more than $4.6 billion in 2011.
(Reuters)
(AP)
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