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India faces 500% tariff threat as Trump backs bill against Russian oil
short by Bhawana Chaudhary / on Thursday, 8 January, 2026
US President Donald Trump has given the green light to a bipartisan Russia sanctions bill authorising up to 500% tariffs on countries including India for buying Russian oil. "This bill would give President Trump tremendous leverage against countries like China, India and Brazil," Senator Lindsey Graham wrote on X. Earlier, Trump imposed 50% tariff on India over purchasing Russian oil.
read more at Financial Express