The US Department of Commerce announced in November that it no longer considers Russia a market economy.. The department substantiated its decision by the established facts of significant interference of the Russian state in the economy.. Cancellation of the market status for the Russian Federation means that as part of trade investigations, restrictions on “full capacity” will be applied to Russian exporters. And there is where to roam.

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Taking into account this decision, we should expect the intensification of work on the revision of existing trade measures, since the abolition of the status of a market economy for the Russian Federation allows changing the methodology for calculating protective duties and setting them at a much higher level..

In addition to the review of current measures against Russian ferrous metal products, new investigations should be expected, in particular regarding chemical products and non-ferrous metal products..

The United States is currently conducting two investigations into Russian products:.

anti-dumping investigation on the import of Russian styrene-butadiene rubber emulsion (Tatneft, Sibur Holding), within which the final duty rates (up to 17.47%) have already been determined, the annual import volume is up to $32 million. As part of this investigation, the status of Russia as a country with a market economy has been revised.;

compensatory investigation on the import of Russian oil pipes (Chelyabinsk Pipe Plant, Volzhsky Pipe Plant, etc.). ), within which the countervailing duty is determined (up to 1.59%) and the anti-dumping duty is adjusted (up to 184.2%), the annual volume of imports is up to 177 million dollars.

In general, the United States applies 15 anti-dumping and countervailing measures to Russian products, as shown in the table..

Thus, only under the action of anti-dumping and countervailing measures, without taking into account other existing restrictions (special protective measures), Russian exports with a total value of about $ 2 billion fall.. USA. With a total annual volume of Russian exports of $18 billion. it exceeds 11%.

In general, it is clear that in the presence of existing large-scale sanctions and restrictions on the Russian Federation, which have already significantly affected trade flows between Russia and the West, the effect of depriving the Russian Federation of its market status is not so tangible.. However, it makes sense to assess the consequences of this decision somewhat more broadly.. Thus, in particular, as in 2002, the European Union may resort to similar measures with the United States in relation to the Russian Federation, and the volume of trade between the Russian Federation and the EU is much larger than with the United States - $ 168 billion. We, in turn, must make diplomatic efforts to make this happen as quickly as possible..

In addition, other countries can also follow the example of the United States, including those that Russia considers as friendly - India, Brazil, China, Turkey.. Not out of love for us or dislike for them, but purely out of pragmatic considerations. Russia, in order not to lose influence on the world market, began to artificially reduce the prices of its exported goods.. These actions of the Russian Federation lead to an increase in the value of dumping and harm the producers of import countries.

As a result, in order to protect their own producers, the governments of import countries will have to apply trade restrictions against unscrupulous imports from the Russian Federation, otherwise they themselves will lose.

Thus, the trade and political consequences of Russia's loss of the status of a country with a market economy in the United States are undoubtedly significant and will manifest themselves more clearly for the Russian economy in the medium and long term..

Read more articles by Andrey Tereshchuk at the link.

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