The House voted overwhelmingly Thursday to suspend normal trade relations with Russia and Belarus, preparing for President Joe Biden to enact higher tariffs on more products and further weaken the Russian economy in response to its military assault on Ukraine.
The U.S. has already taken steps to shut off the importation of Russian oil, liquefied natural gas, seafood, alcohol and diamonds. The vote on Thursday sets the stage for making it more expensive to import certain steel, aluminum and plywood items, among other goods.The broad trade action, which would revoke “most favored nation” status for Russia, is being taken in coordination with the European Union and Group of Seven countries.
“We must do all we can to hold Putin accountable for senselessly attacking the Ukrainian people and undermining global stability,” the two lawmakers said. “The suspension of normal trade relations is an essential part of our effort to restore peace, save lives and defend democracy.” Still, the revocation would carry mostly symbolic weight. The earlier sanctions on imports of Russian oil, gas and coal already cut off about 60% of U.S. imports from the country, but certain sectors of the economy could feel an effect.
“Most American consumers would be happy to pay a bit more to ensure that their products and raw materials don’t support Russia and the Russian government,” Brightbill said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
House Votes to Further Restrict Russian Trade After InvasionThe House has voted to suspend normal trade relations with Russia and Belarus
Leer más »
U.S. House Votes to Strip Russia's Most Favored Nation Trade Status, Moving Bill to SenateThe House voted to strip Russia’s most favored nation trade status in a move toward allowing fresh taxes on the country’s goods.
Leer más »
House passes bill to suspend normal trade relations with RussiaThe House of Representatives passed a bill Thursday to suspend normal trade relations with Russia, the latest effort by US lawmakers to inflict economic pain on the Kremlin for its unprovoked and brutal invasion of Ukraine.
Leer más »
Russia-Ukraine war: Russian forces step up bombardment of KyivRussia’s war on Ukraine is taking a devastating human toll. More than 3 million people have fled and thousands of soldiers and civilians have been killed.
Leer más »
Ukraine Updates Live: Former Russian Deputy PM softens criticism against Russia'I cannot respect foreign companies that have left the Russian market,' Dvorkovich said. Follow Newsweek for the latest updates.
Leer más »