Bipartisan Bill Proposes Hiking Tariff on Russian Ferrosilicon
Sens. Sherrod Brown, D-Ohio, and Tommy Tuberville, R-Ala., want the Biden administration to hike the tariff on ferrosilicon produced in Russia or Belarus to 35%, and introduced a bill that directs it to do so. Tariffs can be changed for those countries because the U.S. ended normal trading relations with them because Russia, with Belarus' support, invaded Ukraine.
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Thirty days after enactment, the Office of the U.S. Trade Representative would have to solicit comments on which products exported by Russia and Belarus are also produced in the U.S. and whether domestic producers could increase production to make up for a drop in imports of those goods.
If the domestic producers have capacity, USTR would tell Congress, and indicate whether the administration would hike the tariffs to 35%; if not, the president would be required to "explain the reasoning for the decision not to proclaim such an increase.”
The bill also extends the removal of NTR through 2025.