500% Tariffs on the Table: Trump’s New Weapon Against Nations Buying Russian Oil

International News: A new bill is going to be introduced in both houses of the US Congress, which will give President Donald Trump the freedom to impose heavy tariffs on countries buying oil from Russia. According to the report, these tariffs can be up to 500 percent.

Allegations of US legislators

Senator Lindsey Graham and House of Representatives member Brian Fitzpatrick said that this bill will target those countries that are giving financial support to Putin's war machine by buying cheap oil from Russia. This especially includes India, China, and Brazil. Both the leaders made it clear that if Moscow refuses to negotiate a peace agreement with Ukraine, then strict sanctions will be imposed on it.

The joint statement said

Graham and Fitzpatrick said that President Trump's appeal for coordinated action with NATO is supported. They say that Putin is being given financial help by China and other countries by buying cheap oil and gas, due to which he will have to face punitive charges from the US and NATO allies.

Plan to put pressure on Putin

According to the bill, the president will have the right to impose heavy tariffs on countries that are supporting Russia economically. Both legislators say that this step is the right way to put maximum economic pressure on Russia in collaboration with Europe.

Trump's NATO appeal

Recently, President Trump wrote a letter to NATO member countries in which he said that he is ready to impose major sanctions on Russia only when all NATO countries agree and stop buying oil from Russia. He also suggested that 50–100 percent tariffs can be kept in place on Chinese goods until the war ends. He believes that this measure will help weaken China's grip on Russia.