From the Document: "Following Russia's 2022 invasion of Ukraine, the Senate and House passed H.R. 7108 on April 7 to revoke Russia's permanent normal trade relations (PNTR) status, which provides unconditional, nondiscriminatory, most-favored nation (MFN) treatment to goods and services traded with Russia. President Biden signed the bill into law on April 8. H.R. 7108 suspends PNTR with Russia and Belarus; provides the President authority to further increase non-MFN tariffs through January 1, 2024; and provides the President authority to restore normal trade relations (NTR) under certain conditions. It also directs the U.S. Trade Representative (USTR) to use its 'voice and influence' at the World Trade Organization (WTO) to encourage other WTO members to suspend trade concessions; consider further steps toward suspending Russia from the WTO; and seek to halt Belarus's accession process. Removing Russia's PNTR status increases applicable duties on U.S. imports from Russia, potentially impacting certain sectors reliant on Russian inputs and raising issues under U.S. WTO obligations."
CRS In Focus, IF12071
Congressional Research Service: https://crsreports.congress.gov/