On Friday, March 11, President Biden announced the U.S, G7 nations, and EU would revoke Russia’s most favored nation (MFN) status.

Today, the U.S. House of Representatives voted 424-8 to revoke normal trade relations with Russia and Belarus. The Senate is expected to pass the bill quickly. 

When Russia & Belarus are removed, they will be grouped with only two other countries, Cuba and North Korea.

Imports from these countries are subject to much higher ‘column 2’ rates of duty of 20% and up.