India Is Squeezed Between Trump Tariffs and Russian Oil

“A new sanctions law giving President Trump broad authority to impose steep tariffs on countries that buy Russian oil adds a new layer of uncertainty to India’s already fraught trade relationship with the United States,” the New York Times reports.

“The bill, signed by President Trump on Friday, gives him the power to impose tariffs of up to 100 percent on goods from countries that continue to buy Russian energy. The aim of Congress was to choke off the revenue that finances Moscow’s war in Ukraine.”

“The law, however, gives Mr. Trump considerable discretion over when and how to wield those tariffs, and it’s not clear when — or even whether — he would impose tariffs that would raise the cost of American imports of Indian goods.”

Bloomberg: Trump signs Russia sanctions bill granting new tariff powers.