WASHINGTON, DC— House Ways and Means Committee Republican Leader Kevin Brady (R-TX), House Ways and Means Committee Chairman Richard E. Neal (D-MA), Senate Finance Committee Republican Leader Mike Crapo (R-ID), and Senate Finance Committee Chairman Ron Wyden (D-OR), released the following statement announcing a bipartisan agreement on legislation that will suspend normal trade relations with Russia and Belarus:
“As Russia continues its unprovoked attack on the Ukrainian people, we have agreed on a legislative path forward to ban the import of energy products from Russia and to suspend normal trade relations with both Russia and Belarus. Taking these actions will send a clear message to Putin that his war is unacceptable and the United States stands firmly with our NATO allies. While Congress needs to do more, as the congressional leaders with jurisdiction over our nation’s trade policy, we are committed to using the tools at our disposal to stop Russia’s unconscionable and unjust war on Ukraine and to hold Belarus accountable for its involvement."
The congressional leaders agreed that the bipartisan legislation will also:
- Provide the President with authority to further increase tariffs on products of Russia and Belarus;
- Require the U.S. Trade Representative to use the voice and influence of the United States to seek suspension of Russia’s participation in the World Trade Organization (WTO) and halt Belarus’ WTO accession; and
- Provide the President with authority to restore normal trade relations with Russia and Belarus subject to certain conditions and congressional disapproval.