July 7, 2022

"Most Favored Country": Biden announces that the United States will move to abolish Russia's status

“Most Favored Country”: Biden announces that the United States will move to abolish Russia’s status

This step requires a law from Congress.

Each country is expected to implement this measure based on its national operations. Sources indicated that congressional efforts To abolish permanent normal trade relations of Russia.

Biden will make the announcement on Friday, after which Congress is expected to introduce legislation.

CNN reported earlier Thursday that bipartisan talks in the Senate were shaping up to take more aggressive action over Russia’s trade situation — after the White House effectively watered down the House decision. Law banning the import of Russian oil, natural gas and coal in the United States.

The previous version of the legislation included a provision that would suspend the normal permanent trade relations of Russia and Belarus. But the White House expressed concerns about that part of the bill, and it was eventually scrapped. Instead, the bill banning Russian energy imports passed by the House of Representatives Wednesday night called for a review of Russia’s status in the World Trade Organization.

Senate Finance Chairman Ron Wyden, a Democrat from Oregon, told CNN he has been engaged in conversations with top Congressional tax writers and the Biden administration on the issue, as pressure has grown to include tougher language in the House bill when the Senate takes it up. . Up – as soon as next week.

“I think the Russians – the inhuman behavior of Russia does not justify them reaping the fruits of the international community,” Wyden told CNN.

Senator Mike Crabow, the Republican of Idaho and the ranking Republican on the Finance Committee, said he probably wouldn’t support the House bill without stronger language about its business situation — and made clear that there would be an effort to amend it.

“The question is PNTR, which is absent. And then they had some other WTO stuff in there, which is kind of hollow if we don’t do PNTR,” Krabow said earlier today. “So, I probably wouldn’t endorse it because it doesn’t have the basic things you need for a proper commercial response.”

This story was updated with additional details Thursday.