Congressional leaders are preparing a ”wide ranging” economic sanctions bill that will strip Russia and its ally Belarus of permanent normalized trade status. The bill may even include provisions aimed at China.
Congressional leaders are preparing a ”wide ranging” economic sanctions bill that will strip Russia and its ally Belarus of permanent normalized trade status, opening the door for large tariff increases on Russian imports of key commodities like palladium and aluminum.
If the United States were to implement a no-fly zone, as Ukrainian President Volodymyr Zelensky has requested, it would likely involve U.S. forces targeting Russian air defenses and war planes, risking widespread conflict with a nuclear-armed Russia. NATO leaders have ruled out such a step, though some in Congress still favor leaving open the door to tougher military measures if Russia escalates the war.
Treyz estimated there is a 35% chance that the trade bill could include provisions aimed at China because members of the House increasingly believe that “China is playing a role in the invasion.” A more likely scenario could be that China is included in the House version of the bill, but stripped from the final legislation from the Senate, in an effort to warn China against aiding Russia.
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