31 Mar 2022 13:51

Japan hikes import tariffs on number of Russian goods - media

MOSCOW. March 31 (Interfax) - Japan's government plans to introduce a bill that would raise tariffs on certain Russian imports and strip Moscow of its "most-favored-nation" status in trade because of the situation in Ukraine, the NHK television channel is reporting.

The finalized bill is to be presented in the current session of Japan's parliament, which runs through the end of June, NHK said.

Once the bill becomes law, the tariff on Russian salmon and red caviar will increase from 3.5% to 5%, and the tariff on crab imports will rise from 4% to 6%.

The rate on most timber will increase from 4.8% to 8%.

The higher rates are expected to remain in effect until the end of March next year.

Liquefied natural gas, coal, crude oil and palladium would not be affected by the proposed measure, as they are not subject to tariffs.