Trump Waives New Russia Tariffs and Sanctions Under Graham Act
What Happened
President Donald Trump on October 16 waived sanctions, restrictions and tariffs under the newly enacted Lindsey O. Graham Sanctioning Russia and Iran Act. The measures included a 500% tariff on certain Russian goods and 100% tariffs targeting the five largest buyers of Russian oil and gas. Trump certified that the waiver was in the US national interest.
Key Takeaways
The measures were due to apply from October 18. The waiver prevents their immediate enforcement, including potential tariffs affecting major Russian energy buyers, while allowing Trump to reconsider the waivers based on subsequent monitoring.