Bipartisan Letter Asks Commerce to Designate Russia a Non-Market Economy for AD Purposes
A bipartisan letter led by Ohio's two senators, and signed by 14 other senators across the ideological spectrum, asks Commerce Secretary Gina Raimondo to reclassify Russia as a non-market economy, which would affect how its goods are treated under antidumping…
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laws. "In its 2002 decision classifying Russia as a market economy, the Department of Commerce noted that economic decentralization was the 'hallmark of market economies,'" the letter said. But, now the senators said, "According to Russian government sources, the state’s share in the Russian economy may be as high as 70 percent. This growth of economic intervention by the Russian government tracks the rapid expansion of State Owned Enterprises (SOEs) in Russia. According to the International Monetary Fund, Russia has the third most SOEs per capita in the world." They also said that the ruble is not freely convertible, another one of the six criteria for determining if a country is a market economy.