SPY USO Lindsey Graham's Tariffs Bill Would Target China, India as Russian Oil Buyers -- WSJ Washington -- A new Bill that had been champion
SPY USO Lindsey Graham's Tariffs Bill Would Target China, India as Russian Oil Buyers -- WSJ Washington -- A new Bill that had been championed by the late Sen. Lindsey Graham would give President Trump fresh authority to impose tariffs on the largest importers of Russian energy, in legislation designed to punish Moscow for the invasion of Ukraine. The measure, which was expected to be introduced in Congress as soon as this week, would target the top five buyers of Russian oil and gas, with China and India atop the list. Under the draft Bill, Trump could issue up to 100% tariffs on the individual countries and individuals facilitating those energy sales, people familiar with the matter said, who added any tariff decision would be the President's alone. If the Bill eventually becomes law, it would be the first time that Congress has authorized the use of tariffs as an explicit geopolitical weapon, analysts said. Tariffs historically have been used as a tool to combat unfair trade practices. The Bill also includes sanctions provisions on Russian Defense, energy, and financial targets as well as the Country's shadow fleet, the secretive network of aging vessels to circumvent global.
SPY USO Lindsey Graham's Tariffs Bill Would Target China, India as Russian Oil Buyers -- WSJ Washington -- A new Bill that had been championed by the late Sen.
Lindsey Graham would give President Trump fresh authority to impose tariffs on the largest importers of Russian energy, in legislation designed to punish Moscow for the invasion of Ukraine.
The measure, which was expected to be introduced in Congress as soon as this week, would target the top five buyers of Russian oil and gas, with China and India atop the list.
Under the draft Bill, Trump could issue up to 100% tariffs on the individual countries and individuals facilitating those energy sales, people familiar with the matter said, who added any tariff decision would be the President's alone.
If the Bill eventually becomes law, it would be the first time that Congress has authorized the use of tariffs as an explicit geopolitical weapon, analysts said.
Tariffs historically have been used as a tool to combat unfair trade practices.
The Bill also includes sanctions provisions on Russian Defense, energy, and financial targets as well as the Country's shadow fleet, the secretive network of aging vessels to circumvent global sanctions, the people familiar with the matter said.
Lawmakers have long pushed for a tougher U.S. line on Russia after more than four years of war on Ukraine.
While Trump has issued sanctions on Moscow during his second term, most Republicans and Democrats in the Senate want the Kremlin to face harsher financial penalties that could potentially convince Russian President Vladimir Putin to end the invasion and come to the negotiating table.