House passes bill to end normal trade relations with Russia and Belarus
The Property on Thursday passed a bill to suspend normal trade relations with Russia and Belarus in reaction to Vladimir Putin’s unprovoked assault on Ukraine.
Why it issues: The monthly bill would elevate tariffs on items from Russia and Belarus and give President Biden electrical power to impose even stricter import taxes on their exports.
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Lawmakers voted 424-8 in favor of the invoice. It now heads to the Senate.
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Biden declared his help for the measure last week.
The massive photograph: Russia’s economy is presently suffering from financial sanctions, with the Worldwide Financial Fund predicting that it will drop into a “deep recession” this 12 months.
What to watch: Senate The greater part Chief Chuck Schumer mentioned on Thursday he will get the job done quickly to move the monthly bill by way of the Senate.
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“Equally parties continue being united in sending Putin a very clear message: His inhumane violence against the Ukrainian people will come at a crippling selling price, and today’s action by the Residence is a further way we’re earning that occur accurate,” Schumer explained.
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“I will function with my colleagues to come across a way to go it through this chamber swiftly.”
Go deeper: The most recent on the Russia-Ukraine disaster
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