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Obama to strip Russia of trade benefits
Question of the Day
President Obama on Wednesday took further action economic action against Russia.
The White House announced it will strip Russia of certain trade benefits, removing the country from the Generalized System of Preferences program.
The action will result in imports of Russian goods being taxed at normal rates.
The program is meant to aid developing countries, and the president said Moscow no longer needs it.
“Russia is sufficiently advanced in economic development and improved in trade competitiveness that continued preferential treatment under the [program] is not warranted,” Mr. Obama said.
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About the Author
Ben Wolfgang covers the White House for The Washington Times.
Before joining the Times in March 2011, Ben spent four years as a political reporter at the Republican-Herald in Pottsville, Pa.
He can be reached at firstname.lastname@example.org.
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