Close Menu
moneysguide.com

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PBOC sets USD/ CNY central rate at 6.7580 (vs. estimate at 6.7241)

    September 17, 2026

    La Fed de Kevin Warsh remonte ses taux et affirme son indépendance face à Trump

    September 17, 2026

    OpenAI 6 new instances of ‘concerning model behavior’ since March

    September 17, 2026
    Facebook X (Twitter) Instagram
    Trending
    • PBOC sets USD/ CNY central rate at 6.7580 (vs. estimate at 6.7241)
    • La Fed de Kevin Warsh remonte ses taux et affirme son indépendance face à Trump
    • OpenAI 6 new instances of ‘concerning model behavior’ since March
    • Live: Will the Bank of England keep interest rates at 3.75%?
    • Fujifilm breaks into top 3 digital camera makers, buoyed by female fans
    • Mysterious trader moves $122 million ahead of Fed’s 2 p.m. decision
    • Salesforce’s Marc Benioff to AI industry: Regulate yourselves or get sued
    • Side Letter: Nothing ventured…
    moneysguide.com
    • Home
    • Business
      • Company News
      • Corporate Earnings
      • Entrepreneurship
      • Mergers & Acquisitions
      • Startups
    • Cryptocurrency
      • Altcoins
      • Bitcoin
      • Ethereum
      • Blockchain
      • DeFi
    • Economy
      • Global Economy
      • Government Policies
      • Inflation
      • Interest Rates
      • Recession
    • Finance
      • Personal Finance
      • Banking
      • Economy
      • FinTech
      • Investing
    • Forex
      • Forex News
      • Economic Calendar
      • Fundamental Analysis
      • Technical Analysis
      • Trading Signals
    • Investing
      • Dividend Investing
      • ETF Investing
      • Growth Investing
      • Portfolio Management
      • Value Investing
    • Stock Market
      • Asian Stocks
      • Earnings Reports
      • European Stocks
      • IPOs
      • US Stocks
    moneysguide.com
    Home»Business»Company News»Trump is about to get ‘unchecked authority’ to impose tariffs of up to 100% on top trading partners
    Company News

    Trump is about to get ‘unchecked authority’ to impose tariffs of up to 100% on top trading partners

    AdminBy AdminAugust 8, 2026No Comments0 Views
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Courts have blocked President Donald Trump’s earlier attempts to use existing laws for his trade war, but Congress is advancing a new law that would provide broad discretion to impose steep tariffs.

    In an 86-to-11 vote, the Senate passed the Lindsey O. Graham Sanctioning Russia Act of 2026 on Friday, with the House expected to approve the bill with similar bipartisan support next month.

    It sanctions Russian President Vladimir Putin and senior Kremlin officials while also targeting the country’s energy sector to cripple the economy amid its war on Ukraine.

    The bill would let Trump impose fresh tariffs as high as 100% on the top five importers of Russian oil and gas. While that could include U.S. allies like the European Union, South Korea, Japan as well as top trading partners like China and India, the president also has the ability to issue waivers if he deems it “in the national interest of the United States.”

    Despite the overwhelming support, Sens. Rand Paul, R-Ky., and Ron Wyden, D-Ore., tried to remove the bill’s tariff authority, but failed.

    “It will not bring peace to Ukraine, but rather will deliberately make American families poorer by increasing tariffs, which are nothing but a tax on imported goods,” Paul said on the Senate floor.

    Sen. Raphael Warnock, D-Ga., also balked at the tariff power but eventually voted for the bill after receiving a written promise from U.S. Trade Representative Jamieson Greer that tariffs would be lifted after countries are no longer deemed top buyers of Russian energy or facilitators of sanctions evasion.

    Still, he expressed unease about handing over sweeping new tariffs powers to Trump and vowed to remain vigilant.

    “We should not have to choose between putting a check on Putin’s aggression and putting a check on this president’s tariffs regime,” Warnock said, adding that if Trump “oversteps his power, we will see him in court.”

    The vote comes after the Supreme Court ruled in February that Trump can’t use the International Emergency Economic Powers Act to impose his “Liberation Day” tariffs, upholding a series of lower-court rulings.

    But he pivoted to Section 122 of the Trade Act of 1974 to impose temporary 10% tariffs, then invoked Section 301 of the same law for new levies of 10%-12-5% on 60 trading partners.

    Those duties are also expected to face lawsuits as they’re based on accusations of forced labor, even in top developed economies.

    Tariffs under the Russia sanctions bill, however, would likely avoid similar legal challenges as it provides more open-ended authority to a president who has already tried to interpret trade laws extremely aggressively.

    “The Russia bill is riddled with the same ambiguity the president has exploited in these other laws,” Cato Institute scholars Clark Packard and Scott Lincicome wrote in a Washington Post op-ed last week.

    They pointed out that the bill doesn’t specify what data will determine which countries are the five largest importers of Russian energy. And while the tariff authority expires in five years, the bill doesn’t say how long the tariffs themselves will last.

    Tariffs exemptions are also not automatic and are subject to the USTR’s determination that allies have taken “significant steps” to reduce their imports, Packard and Lincicome added. In addition, the tariff rates are at the president’s whim.

    “Trump could direct the trade representative to set the tariff rate at 100% for one buyer of Russian energy and zero for another. That unchecked authority gives Trump leverage in disputes unrelated to Ukraine,” they warned.

    For example, Trump could threaten India with new tariffs as part of trade talks that may cover farm exports, digital taxes or drug prices.

    The ability to hit China with a new 100% U.S. tariff could also upset the fragile trade truce the world’s two biggest economies have been observing for the past year.

    But even as Packard and Lincicome accuse Trump of abusing “nearly every tariff statute on the books,” they place most of the blame on Congress.

    The Russia sanctions bill merely marks the latest instance of the legislative branch ceding trade authority to the executive branch.

    “For more than half a century, Congress has delegated broad tariff powers to the president with few limitations,” they explained. “If the president has run wild, it’s only because lawmakers took away the guardrails.”

    authority impose partners Tariffs Top Trading Trump unchecked
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Admin
    • Website

    Related Posts

    La Fed de Kevin Warsh remonte ses taux et affirme son indépendance face à Trump

    September 17, 2026

    Fujifilm breaks into top 3 digital camera makers, buoyed by female fans

    September 16, 2026

    Salesforce’s Marc Benioff to AI industry: Regulate yourselves or get sued

    September 16, 2026
    Leave A Reply Cancel Reply

    Top Posts

    ‘The Odyssey’ fuels demand for Imax 70 mm screenings

    July 25, 202656

    Vietnam's 10% growth drive runs into economic realities

    July 30, 202616

    Has OpenAI already quietly hit pause on some AI development?

    July 30, 202612

    15 Passive Income Ideas That Actually Work in 2026

    August 13, 202611
    Don't Miss

    PBOC sets USD/ CNY central rate at 6.7580 (vs. estimate at 6.7241)

    By AdminSeptember 17, 20260

    PBOC sets USD/ CNY central rate at 6.7580 (vs. estimate at 6.7241) !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}

    La Fed de Kevin Warsh remonte ses taux et affirme son indépendance face à Trump

    September 17, 2026

    OpenAI 6 new instances of ‘concerning model behavior’ since March

    September 17, 2026

    Live: Will the Bank of England keep interest rates at 3.75%?

    September 16, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    About Us

    Welcome to MoneysGuide.com—your trusted source for the latest news, insights, and updates from the world of finance.

    Our mission is to make financial information accessible to everyone. Whether you're an investor, trader, entrepreneur, or simply interested in global markets, we provide timely coverage of the topics that matter most.

    Facebook X (Twitter) Pinterest YouTube WhatsApp
    Our Picks

    PBOC sets USD/ CNY central rate at 6.7580 (vs. estimate at 6.7241)

    September 17, 2026

    La Fed de Kevin Warsh remonte ses taux et affirme son indépendance face à Trump

    September 17, 2026

    OpenAI 6 new instances of ‘concerning model behavior’ since March

    September 17, 2026
    Most Popular

    ‘The Odyssey’ fuels demand for Imax 70 mm screenings

    July 25, 202656

    Vietnam's 10% growth drive runs into economic realities

    July 30, 202616

    Has OpenAI already quietly hit pause on some AI development?

    July 30, 202612
    © 2026 MoneysGuide.com. All Rights Reserved.
    • Privacy Policy
    • Terms and Conditions
    • Contact Us
    • About Us

    Type above and press Enter to search. Press Esc to cancel.