Trump-backed bill may slap 500% tariffs on nations trading with Russia including India, China
'Big breakthrough here. So what does this bill do? If you're buying products from Russia and you're not helping Ukraine, then there's a 500 percent tariff on your products coming into the United States. India and China buy 70 percent of Putin's oil. They keep his war machine going,' Graham told ABC News.
The bill, which Graham said now has 84 co-sponsors, aims to pressure countries like India and China to stop purchasing oil and other goods from Russia, thereby weakening its war economy and pushing Moscow to negotiate peace in Ukraine.
'My bill has 84 co-sponsors. It would allow the president to put tariffs on China, India, and other countries to stop them from supporting Vladimir Putin's war machine and get him to the table. For the first time yesterday, the president told me … I was playing golf with him [Trump]. He says, 'It's time to move your bill,'' Graham added.
The bill, expected to be moved in August, is part of growing US efforts to tighten the economic noose around Russia as its war in Ukraine drags on. India and China have continued buying discounted Russian oil despite Western sanctions, making them targets of the proposed legislation.
The bill is co-sponsored by Graham and Democratic Senator Richard Blumenthal. 'We are going to give President Trump a tool in the toolbox,' Graham said, adding that the president told him while golfing, 'It's time to move your bill.'
Initially proposed in March, the legislation was delayed after the White House signaled opposition to expanding sanctions, as Trump was trying to reset ties with Russian President. However, the administration now appears ready to support the effort.
Reports suggest the White House previously pressed Graham to soften the bill. The Wall Street Journal reported that the Trump Administration is 'quietly pressuring' the Senate to water down the legislation by turning 'the word 'shall' into 'may' wherever it appears in the bill's text, removing the mandatory nature of the prescribed reprimands.'
The Journal's report gained further weight when Graham proposed a carve-out in the bill for countries that support Ukraine—an attempt to prevent a potential US-EU trade war if the legislation is enacted. President Donald Trump, speaking to Politico in mid-June, also signaled hesitation, saying, 'sanctions cost us a lot of money,' indicating a reluctance to pursue aggressive economic penalties. However, Secretary of State Marco Rubio later clarified that while such sanctions could disrupt the Ukrainian peace process, the administration has not ruled them out entirely.
If enacted, the legislation could mark a significant rupture in US trade relations with both Beijing and New Delhi. For India, which counts the US as a top export market, the measure could have wide-ranging economic and diplomatic consequences.
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