US to impose 500% tariff on India, China over Russia business ties? Trump gives nod to Senate bill | World News - Hindustan Times

In a significant move that could reshape international trade dynamics, US President Donald Trump has endorsed a Senate bill proposing a 500% tariff on nations such as China and India due to their business engagements with Russia, particularly in the oil sector. This development comes amid escalating geopolitical tensions and aims to pressure countries into reducing their economic ties with Russia, thereby isolating the nation further on the global stage. China and India, both major purchasers of Russian oil, are directly impacted by this proposed legislation. The potential imposition of such steep tariffs could disrupt their trade relations with the US, potentially leading to broader economic repercussions. Analysts suggest that this move is part of a broader strategy by the US to curb Russia's economic influence and to rally international support against its policies. The proposed tariff hike has sparked varied reactions across the globe, with some viewing it as a necessary step to uphold international norms, while others criticize it as an aggressive measure that could trigger a trade war. As the bill progresses through legislative channels, global markets are closely monitoring the situation, wary of its potential impact on international trade and economic stability.

— Authored by Next24 Live