Russia sanctions bill gives Trump sweeping new tariff powers

The recently signed Russia sanctions bill by US President Donald Trump grants him the authority to impose tariffs on Russian imports for up to 100%, a power that extends well beyond his presidency. While the immediate impact on the global economy may be limited due to Trump's caution ahead of the November midterm elections, critics argue that the broad language of the bill could lead to future disputes with other nations if they become targets.

The legislation requires tariffs on all goods from the five largest importers of Russian crude oil or gas and any country aiding Russia's oil or gas purchases. While China and India are significant buyers of Russian oil, the law's lack of specific targets may allow US officials to impose tariffs on a range of countries. Critics argue that Trump's discretionary authority could lead to abuse, reminiscent of his past actions against foreign leaders.

The White House maintains that they will adhere to the law's guardrails. The bill, aimed at depriving Russia of funds for its war against Ukraine, also authorizes sanctions against Russian energy and defense industries and its tanker fleet. However, Moscow fears that further US sanctions could hinder peace talks. US officials have attempted to reassure lawmakers that the measure has sufficient safeguards.

The legislation, which passed Congress on Wednesday, is seen as the first time in nearly four decades that Congress has granted new tariff authorities to the executive branch.