Russia to Levy Tariff at 11.6% on Some of Hardware Products

Recently, the Ministry of Industry and Trade of the Russian Federation proposed to levy tariff on bolts, nuts and washers imported for mechanical manufacturing at 11.6% and no less than USD 282.4 per ton, the proposed tariff to be implemented for 3 years.

The effectiveness of the special tariff will not be applicable to Belarus and countries enjoying "Russian Preferential System". But China, one belonging to this system, still needs to pay the special tariff. According to the survey data from the Ministry aforesaid, the Russian import of fixtures for mechanical manufacturing took on a growth by 62% from 2006 to 2008, while the production and sales in Russian domestic market dropped by 13.9% and 14.7% respectively.