The House voted to strip Russia’s most favored nation trade status in a move toward allowing fresh taxes on the country’s goods.
The House voted to remove Russia' most favored nation trade status, in a step toward allowing more taxes on Russian-made goods.The U.S. has tried to punish Russia's economy amid Moscow's invasion of Ukraine.
The House voted Thursday to strip Russia of its protected trading status, passing the legislation on to the Senate in the first step allowing the U.S. to levy fresh taxes on more of its goods. The measure has wide support in the Senate as the U.S. and its allies move to do more damage to Russia's economy in response to Moscow's three-week long assault on Ukraine. President Joe BidenUnderscoring the broad support for hampering the Russian economy, the House passed the measure in a 424-8 vote. The bill would also strip most favored nation status for Belarus, a close ally of Russia.
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