WASHINGTON - The US House of Representatives overwhelmingly backed legislation on Thursday to remove"most favoured nation" trade status for Russia and Belarus over the invasion of Ukraine, paving the way for higher tariffs on imports from the countries.
To become law, the measure must also pass the Senate. Senate Democratic Majority Leader Chuck Schumer said it would move through the Senate quickly, after approval by the House. It would automatically raise US tariffs to non-WTO rates for imports from Russia and it authorises US President Joe Biden to proclaim higher tariff rates on products from both Russia and Belarus.last week, the impact from the tariff status change may be largely symbolic, said Mr Chad Bown, a senior fellow with the Peterson Institute for International Economics.
All eight"no" votes came from Republicans, some of whom said the Magnitsky provision gave too much power to the president.
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