The U.S. has cut Russia out of a trade program that allows developing countries to pay zero or reduced tariffs on the import of up to 5,000 products, the White House announced late last week.
In 2013 Russia imported goods worth nearly $300 million under the program, known as the Generalized System of Preferences, or GSP, according to the website of the Office of the United States Trade Representative.
Russian firms must now pay higher, non-preferential rates for goods that previously qualified for the program.
U.S. President Barack Obama told Congress in May that Russia would be stricken from the list, saying that Russia had "sufficiently advanced in economic development" and should no longer qualify for a program meant for developing countries.
Caitlin Hayden, a spokeswoman for the White House National Security Council, said that the measure was "not directly tied" to Russia's actions in Ukraine but that, give the political climate, it was "particularly appropriate to take this step now."
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
