WASHINGTON – United States Trade Representative Katherine Tai released the following statement after President Biden joined G7 leaders in announcing additional economic actions to further isolate Russian from the global economy and hold President Putin accountable for his war against Ukraine.
“On day one of his Administration, President Biden was clear that the United States would lead on the global stage and work in concert with our allies and partners to respond to the world’s challenges. That guiding principle has been the hallmark of the resolute and united global response to President Putin’s premeditated, unprovoked, and unjustified war against Ukraine.
“The joint action announced today will revoke most favored nation treatment of Russian products by the world’s largest economies, denying Russia benefits of membership at the World Trade Organization. We will work with Congress, which has already shown bipartisan commitment, to revoke Permanent Normal Trade Relations for Russia. Putin and his government must pay a severe economic and diplomatic price for his invasion of Ukraine, and we will continue to partner with other WTO Members to further isolate and ostracize Russia in multilateral institutions.”