House Backs Removal of PNTR Status from Russia, Moving Bill to Senate

The U.S. House voted overwhelmingly late last week to back the removal of “permanent normal trade relations,” or PNTR, status from the Russian Federation, the latest congressional effort to put economic pressure on Moscow.

The legislation, aimed at penalizing the Russian government for launching an invasion of Ukraine, could reach deep into the steel supply chain. Tariffs of 20% or more could be seen on many Russian-made goods and steel products should the bill become law.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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