The US Department of Commerce has withdrawn the status of a country with a market economy from Russia. About it reported on the website of the department.
The US authorities made a decision on the basis of a study, according to which the state is actively intervening in the Russian economy. As a result, there are distortions in the market, according to the Ministry of Commerce.
The change in status would allow the US to enforce anti-dumping duty laws that should address growing market distortions.
Why do we need the status of a state with a market economy. Market economies are not subject to US restrictions on foreign trade. It is more difficult to impose anti-dumping duties against them. What you need to know. Russia received the status of a country with a market economy in 2002 after an investigation by the US Department of Commerce. This helped the country join the World Trade Organization in 2002.
USA already planned change the status of Russia in 2021, but the investigation did not bring changes. The US Department of Commerce began a new audit in May.
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