1 month ago
US Bill Could Impose 100% Tariffs on India
The United States is working on a new law that could let the president put very high taxes on goods from countries that keep buying Russian oil.
India buys a lot of cheap Russian oil, so it could be hit by these taxes.
The bill already passed a vote in the Senate, but it still needs to go through the House of Representatives.
President Donald Trump said he might also add Iran to the list of countries that could face these taxes.
The law is still a possibility, not a fact yet, and it could change trade between the US and India if it becomes law.
US bipartisan sanctions bill could authorize 100% tariffs on countries buying Russian oil.
India is a major buyer of discounted Russian crude, making it a potential target.
The bill cleared a Senate vote 86‑12 but still needs House approval.
President Trump could use tariffs as a negotiating tool, not an automatic penalty.
Trump suggested adding Iran to the tariff list, which may delay the bill.
- Who
- US Congress and President Donald Trump
- What
- Sanctions bill authorizing up to 100% tariffs on countries buying Russian oil
- Where
- United States Congress; impacts India
- When
- Senate vote recently; House to reconvene in September
- Why
- To increase economic pressure on Russia over its war in Ukraine
Key facts
- Bill
- Russia sanctions bill
- Tariff rate
- Up to 100%
- Countries potentially affected
- India, China, Slovakia, Hungary, Azerbaijan
- Senate vote
- 86-12
- President
- Donald Trump
- Status
- Pending House approval
Quotes
Donald Trump
President of the United States
“"It shouldn’t be necessary, to be honest. But if it’s necessary, I’d like them to add Iran as tariffs, not just as sanctions. I think it’s important. That’s what Lindsey wanted, because I heard that they have tariffs on Russia, but not on those five countries having to do with Iran. I’d like to see tariffs on Iran. It would make it much stronger."”
deccanchronicle.com
Sources
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