President Biden is calling for the removal of normal trade relations with Russia following its invasion of Ukraine. The move would allow for new tariffs on Russian imports, which Biden said would be a “crushing blow” to Russia’s economy.
Biden said Friday, “The free world is coming together to confront” Russian President Vladimir Putin,” and “we’re going to continue to squeeze” him.
The President is proposing the ban on imports of seafood, spirits and diamonds. This means no more caviar and vodka from that country. Biden is also calling for Congress to remove “favored nation status,” which makes it very hard for Russia to do business with other counties.
The U.S. The President said there’s bipartisan cooperation to stand up against Russia’s aggression in Eastern Europe. Biden added the U.S. will be going after Russian oligarchs as they support Russian President Vladimir Putin and harm Russia’s citizens.
Biden’s proposal would put Moscow’s trade relationship with the U.S. in the same category as North Korea and Cuba. The proposal would require congressional approval.
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