The House on Thursday passed a bill to strip Russia and Belarus of their most favored nation trading status. The bill passed in a 424 to 8 vote, allowing the U.S. to suspend normal trade relations with Russia and Belarus, which would increase tariffs on imports from both countries, per Just the News. In order […]
The House on Thursday passed a bill to strip Russia and Belarus of their most favored nation trading status.
The bill passed in a 424 to 8 vote, allowing the U.S. to suspend normal trade relations with Russia and Belarus, which would increase tariffs on imports from both countries, per Just the News.
In order to restore normal trade relations, Biden would have to “consult” with both the House Ways and Means and Senate Finance committees and certify that both countries have agreed to leave Ukraine, are not an immediate threat to NATO countries and that Ukraine has the ability to once again freely elect its government.
Additionally, the bill would require the Biden administration to press for removing Russia from the World Trade Organization and oppose Belarus joining.
"The Congress today will take another step in lockstep with many of our allies, as is the Biden administration, to tighten our stranglehold on the Russian economy," House Speaker Nancy Pelosi said Thursday, calling the legislation "an intense action to further isolate Russia and decimate its economy."
The bill now heads to the Senate, where Majority Leader Chuck Schumer said that he plans to pass the legislation and send it to Biden's desk.
