Russian Import Substitution Policies Draw Criticism In First WTO Review
Members of the World Trade Organization including the United States and European Union sharply criticized Russia for instituting import substitution policies aimed at strengthening domestic production in its first ever Trade Policy Review, claiming that Russian policy is counter to the purpose of the WTO. “We have, however, been extremely disappointed to see Russia turning away from the core tenets of the WTO -- liberal trade, transparency, predictability -- in favor of inward-looking, import-substitution, economic policies,” Deputy U.S. Trade Representative...