Ns News Online Desk: United States President Joe Biden on Friday said his country will revoke Russia’s “permanent normal trade relations” status to punish Moscow over its invasion of Ukraine.
The change, which Biden said was being taken in concert with moves by U.S. allies, would pave the way for the U.S. to impose tariffs on a wide range of Russian goods, heightening pressure on an economy on the brink of a deep recession.
“The U.S. and our allies and partners continue in lockstep to ramp up the economic pressures on Putin and to further isolate Russia on the global stage,” Biden said at the White House in announcing the move to be taken jointly with NATO allies, the G-7 and European Union.
