Canada Revokes MFN Status of Russia, Belarus
Canada will revoke Russia's and Belarus’ most-favored-nation status, subjecting “virtually all” imports from either country to a 35% tariff, the country’s Department of Finance said March 3. Russia and Belarus will join North Korea as the only other countries subject to general tariffs under Canada’s customs law.
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Canada was the first country to remove the MFN status from Russia and Belarus, said Chrystia Freeland, Canada’s deputy prime minister and finance minister. She said Canada will encourage trading partners to do the same. “The economic costs of the Kremlin’s barbaric war are already high," Freeland said, "and they will continue to rise."
The EU is also considering removing both countries’ MFN status, Reuters reported March 3. EU member states are expected to discuss the move March 4, the report said.