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1 1 (March 17, 2022)

handle is hein.crs/govefkz0001 and id is 1 raw text is: Congressional SResearch Service IE Invasion of Ukraine: Russia's Trade Status, Tariffs, and WTO Issues Updated March 17, 2022 Following Russia's invasion of Ukraine, the United States and its allies have imposed financial sanctions and taken trade actions. Some Members of Congress have introduced legislation (e.g., H.R. 6835, H.R. 6905, H.R. 7014, S. 3725, S. 3717, S. 3786) to revoke Russia's permanent normal trade relations (PNTR) status, which provides unconditional nondiscriminatory, most-favored nation (MFN) treatment to goods and services traded with Russia. The proposals would suspend PNTR with Russia (and Belarus); seek to suspend Russia's membership in the World Trade Organization (WTO); and provide authority to restore PNTR under certain conditions. On March 11, 2022, President Biden announced his support for legislation revoking Russia's PNTR status, in coordination with G7 countries. Removing Russia's PNTR status would increase applicable import duties on U.S. imports from Russia, potentially impacting certain sectors reliant on Russian inputs and raising issues under U.S. WTO obligations. Background During 1992-2012, Russia's normal trade relations (NTR) status was annually renewed under Title IV of the Trade Act of 1974. The act requires the President to deny NTR status to any country that did not have it at the time of the law's enactment on January 3, 1975, essentially covering nonmarket economy countries (the Soviet Union and other Communist countries). It further denies NTR status as long as the country denies its citizens the right to freedom of emigration under Section 402 of the act (the so-called Jackson-Vanik amendment). Congress enacted the amendment in response to restrictive emigration policies the Soviet Union implemented in 1972. Amending Russia's trade status was tied to its WTO accession in August 2012. WTO rules generally require each member to provide unconditional MFN treatment (i.e., a member's lowest tariff or best trade concession) to all WTO members. To comply with WTO rules and ensure the United States benefited from the terms of Russia's WTO membership (e.g., market access commitments), Congress passed legislation in December 2012 that removed Title IV restrictions and provided the President authority to extend PNTR to Russia. Congressional Research Service https://crsreports.congress.gov IN11881 CRS INSIGHT Prepared for Members and Committees of Congress

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