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The Trump administration has approved a bill under which a 500 percent tariff will be imposed on India, Brazil, and China. This means these three countries will have to pay 500 percent more tax on their exports to the US.
US eyes 500% tariffs on India, China & Brazil after Venezuela step
New Delhi: US President Donald Trump has adopted an aggressive stance against several countries. After taking military action against Venezuela, Trump is now preparing to wield the tariff whip against India, Brazil, and China. The Trump administration has planned to impose a 500 percent tariff on these two countries.
The Trump administration has approved a bill under which a 500 percent tariff will be imposed on India, Brazil, and China. This means these three countries will have to pay 500 percent more tax on their exports to the US. Currently, the US has imposed a 50 percent tariff on India.
3 Countries to be Affected
US Senator Lindsey Graham confirmed this, saying that Trump has given the green light to a bill imposing sanctions on Russia. This bill includes a provision to impose up to a 500 percent tariff on countries like India, China, and Brazil for buying oil from Russia.
According to Graham, "By buying crude oil from Russia at low prices, these countries are fueling Putin's war machine. The US has proposed this bill to punish these countries."
What did Lindsey Graham say?
Lindsey Graham shared a post on the social media platform X, writing:
After important meetings on several issues, President Trump has also approved the bill imposing sanctions on Russia. I have been working on this bill for months.
This bill will punish countries that buy oil from Russia. This could have a strong impact on India, China, and Brazil.
Bill to be introduced in Parliament
Although Trump has approved this bill, it has not yet been passed by the US Congress. Voting on this bill is expected next week.
