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‘In Honour of Lindsey’: Trump on Bill that Could Hike Tariffs on India, China
The measure would give the president broad authority to penalize major Russian energy buyers, with economists warning India’s GDP could fall by 0.5%.
- On Wednesday, the White House confirmed President Donald Trump supports new sanctions legislation that could impose tariffs of up to 500 per cent on India and other nations over their continued purchases of Russian oil.
- Legislators introduced this softened version of last year's Sanctioning Russia Act following the death of Senator Lindsey Graham, who played a key role in advancing the legislation before passing away last week.
- Targeting five major purchasers including India and China, the bill proposes 100 per cent tariffs, Senator Richard Blumenthal explained, with narrow waiver authority for nations reducing their energy dependency.
- New Delhi has defended its Russian crude imports as essential for domestic economic requirements, though economists warn the proposed tariffs could shrink India's GDP by as much as 0.5 per cent.
- With White House backing, the bill could pass the Senate before August, granting the U.S. president broad authority to impose secondary tariffs on countries trading with Russia's energy industry.
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24 Articles
24 Articles
US Senate Bill seeks 100% tariffs on India, China for buying Russian oil
A bill seeking to impose 100 per cent tariffs on five countries, including India and China, for buying Russian oil, while exempting European nations purchasing gas from Moscow, was introduced in the US Senate with the support of over 60 lawmakers.
·Chennai, India
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Coverage Details
Total News Sources24
Leaning Left8Leaning Right8Center2Last UpdatedBias Distribution45% Left, 44% Right
Bias Distribution
- 45% of the sources lean Left, 44% of the sources lean Right
45% Left
L 45%
11%
R 44%
Factuality
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