Mint Quick Edit | An American tariff of 500%? Absurd and unfair

6 months ago 10

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US Senator Lindsey Graham sponsored the bill aiming to levy a 500% tariff on imports from countries that buy oil and energy products from Russia. (Bloomberg)

Summary

That’s what Indian exports could be slapped with as a punitive US duty if a big ugly bill gets passed and India doesn’t quit buying Russian oil. Second order sanctions must stop.

Even as negotiations for a US-India trade deal are underway, there’s a new threat on the horizon that Indian exporters may face. America’s President Donald Trump has reportedly green-lit a bill that aims to levy a 500% tariff on imports from countries that buy oil and energy products from Russia.

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