The Chicago Entrepreneur

House votes to strip Russia of normal trade status, opening door to higher tariffs

The House of Representatives on Thursday passed a bill that would strip Russia of normal trade relations with the U.S., in a move that paves the way for higher tariffs on Russian goods. The bill now goes to the Senate. President Joe Biden has backed efforts to change Russia’s trade status as one way to punish President Vladimir Putin over the invasion of Ukraine. The vote was 424-8, with all eight “no” votes coming from Republicans.

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