CRS Summarizes Russia's Status as to Trade, Tariffs and the WTO

The Congressional Research Service reviewed Russia's current status as to global trade, tariffs and World Trade Organization ("WTO") membership in anticipation of U.S. proposed legislation to revoke Russia's permanent normal trade relations ("PNTR") status.

CRS researchers reported Congress is considering legislation that would:

• suspend PNTR with both Russia and Belarus;
• give the President additional power to increase tariffs on goods not covered by most-favored nation status; and
• direct the U.S. Trade Representative to the WTO to (i) suspend PNTR with Russia, (ii) consider Russia’s removal from the WTO, and (iii) block Belarus’s attempt to join the WTO.

CRS researchers noted that certain U.S. sectors would see substantial cost increases if Russia's PNTR status is revoked.