Guardian: Ukraine plan to raise import tariffs on range of goods alarms US

Published Sept. 27, 2012 at 8:09 am

A farmer reaps grain in combine harvesters on land near Zhovtneve village, in the region of Chernigov, some 220km north of Kyiv on August 11, 2009. Imported agricultural machinery is on the list of goods facing higher tariffs imposed by the eastern European country.

Photo by AFP

Protectionist measures cause concern at World Trade Organisation over effect on global trading system.

The US on Wednesday, Sept. 26, reacted with alarm to Ukraine’s plan to introduce sweeping protectionist measures and warned that the actions by the eastern European country could have damaging consequences for the entire global trading system.

Amid growing concerns that a synchronised slowdown in the global economy could prompt countries to erect trade barriers, the government in Kyiv announced this week that it was raising tariffs on more than 350 goods affecting imports worth $4.6bn (£2.9bn).