Drafted by the late Senator Lindsey Graham of South Carolina, a staunch supporter of Ukraine, the legislation would empower President Donald Trump to impose 100% tariffs on the five largest purchasers of Russian crude and natural gas. It would also allow 100% tariffs on the five countries most involved in helping Russia evade energy sanctions. China, India and Turkey rank as the biggest buyers of Russian petroleum products.
House leaders plan to bring the measure to the floor next week under a procedure that requires only a simple majority, according to a person familiar with the plan. The bill had met rising resistance over worries that it could broaden Trump's tariff powers and lift oil prices. Even so, after this week's Republican midterm convention, leaders chose to move forward upon returning to Washington. The White House backs the bill, and it has support from both parties.
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Retailers and the US Chamber of Commerce caution that the bill could provide the Trump administration with fresh legal authority to expand tariffs, and business groups oppose it. In a draft letter to House leaders reviewed by Bloomberg, the Chamber and allied groups wrote, "We urge Congress to remove the tariff authority from the bill and instead focus on targeted sanctions, stronger enforcement against sanctions evasion and coordinated diplomacy with countries purchasing Russian energy."
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