'Cunning, suppose that all this time the Putin government has been buying Biden's national goods at cheap prices without knowledge.'
The tension between the United States (US) and Russia reached a new level when The Uncle Sam now no longer recognizes Moscow as a market economy country.
Through a statement issued by the US Department of Commerce, Russia was found to be in violation of anti-dumping regulations* and subsequently led to the cancellation of Russia's status as an economic country.
*A protective tariff imposed by the domestic government on foreign imports believed to be priced below fair market value.
Commenting on the statement, their analysis found that the government's 'extensive' involvement in the Russian economy led to price and cost chaos.
It also indirectly indicates that Russian companies import US goods unfairly and can bring losses to the country led by Joe Biden.
Following the disclosure, the US now has the power to use anti-dumping rules to deal with market turmoil caused by the Russian government's interference in their economy.
At the same time, the market economy status that Russia received in 2022, an important approval that would allow Moscow to join the World Trade Organization (WTO), was revoked.
Meanwhile, the US Chamber of Commerce said last year that Moscow could challenge any decision made by Washington to strip Russia of its market economy status at the WTO.
However, since Russia's invasion of Ukraine earlier this year, relations between Moscow and Western countries have become tense.
