US Moves to End 'Normal Trade Relations' with Russia
![[Image source=AP Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2022031114023375185_1646974952.jpg)
[Asia Economy Reporter Cho Hyun-ui] U.S. President Joe Biden is pushing to terminate Permanent Normal Trade Relations (PNTR) with Russia and impose high tariffs on Russian imports.
Major foreign media outlets reported this on the 11th, citing sources. Permanent Normal Trade Relations refer to the status under which a trading partner receives "Most-Favored-Nation" tariffs in trade with the U.S.
Revoking PNTR means stripping Russia of its Most-Favored-Nation status as a trading partner and applying high tariffs.
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Foreign media stated, "Terminating PNTR with Russia requires congressional approval," and "Currently, both the House and Senate support this measure."
This content was produced with the assistance of AI translation services.
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