As a consequence of its invasion of Ukraine, President Joe Biden will revoke Russia’s “most favored nation” trade status Friday in a move to which pretty much everyone reacted by questioning “Russia had ‘most favored nation’ trade status?”
According to the Associated Press, the move has bipartisan support and it will be match by similar revocations by the European Union and the Gang of Seven nations. The revocation will allow the countries to impose tariffs on Russian products.