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‘In honour of Lindsey’: Trump on bill that could hike tariffs on India, China
The bill would authorise Trump to impose tariffs of up to 100% on the world's top five buyers of Russian crude oil and natural gas, including China and India.
US President Donald Trump on Tuesday endorsed a bipartisan Russia sanctions bill that was spearheaded by Senator Lindsey Graham, who recently passed away. The US President said that the Republican had wanted tougher economic measures against Moscow "more than any other thing."
The bill Trump was commenting on targets top five purchasers of Russian crude oil and natural gas, including China and India.
"This is in honour of Lindsey. This was his thing. He wanted this more than any other thing," Trump told reporters in the Oval Office, referring to Graham's years-long push for stronger sanctions aimed at curbing Russia's oil revenues, according to a Bloomberg report.
Lindsey Graham, 71, was a key ally of US president Donald Trump and one of the most influential conservative voices in Congress. According to Bloomberg, the sanctions bill was negotiated through high-level conversations between Graham, Treasury Secretary Scott Bessent and Democrat Senator Jeanne Shaheen.
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What is the 100% tariff legislation?
The bipartisan legislation would authorise Trump to impose tariffs of up to 100% on the world's top five buyers of Russian crude oil and natural gas, including China and India, in an effort to pressure Moscow to end its war in Ukraine, as reported by HT earlier.
Foreign policy hawks led by Graham had spent the past year advocating various versions of the bill but struggled to secure White House backing. The legislation gained momentum after negotiations between the White House, Treasury Secretary Scott Bessent, Republican senators and Democratic Senator Jeanne Shaheen last week.
According to a Senate aide, the bill's sponsors believe they now have enough support to pass the Senate, though a timeline for a floor vote has not yet been finalised.
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Could the legislation include Iran?
Trump also suggested the legislation could be expanded to include Iran.
"They're going to add Iran, which is a very big thing. If they did that, they may add Hezbollah too," he said, according to the Bloomberg report.
The bill includes an exemption for countries that import less than 15% of their natural gas from Russia, shielding allies such as France and Japan.
It also authorises tariffs on countries accused of helping Russia evade oil sanctions and contains measures targeting Moscow's shadow fleet and Chinese support for Russia's defence industry.
If implemented, the tariffs could significantly escalate trade tensions with China and India, both major importers of Russian energy. The move would also come as Washington and Beijing navigate a fragile trade truce set to expire in November, ahead of an expected meeting between Trump and Chinese President Xi Jinping in September.
Ukraine's war with Russia has entered its fourth year, with the conflict causing an estimated two million military casualties and nearly $200 billion in damage to Ukraine.
Republican Senator John Kennedy said after speaking with Trump on Tuesday that there was a "serious effort" in Congress to advance the bill.
"I don't speak for him, but I think he's ok with the deal," Kennedy told reporters.
