The authority still needs a presidential switch
After the House passed the Lindsey O. Graham Sanctioning Russia and Iran Act, the External Affairs Ministry said India would keep securing energy for 1.4 billion people through diversified sourcing and market conditions. It also said New Delhi had told US interlocutors it would take all necessary measures to protect its trade and economic interests.[1]
India Today wrote that a 100 per cent tariff stays off Indian goods until the president uses the authority. CBS News said the bill lets the president impose that ceiling on the top five purchasers of Russian oil or natural gas, with an exception for countries that take less than 15 per cent of their gas from Russia and are cutting imports. NBC News recorded the House vote as 262 to 159 and the Senate as 86 to 11 last month.[1], [2]
Where the invoice lands
Whether the measure bites is read on the price of Indian exports into the United States, not on a sealed cut in Russian barrels. India Today said that if the authority were used against India, the impact would be felt first in the competitiveness of Indian products in the American market. CBS, citing the Centre for Research on Energy and Clean Air, said China and India are the largest buyers of Russian crude. A national-interest waiver keeps the detour open.[1], [2]
The same day, Trump said he might put very heavy tariffs on Europe if he judged Canada-EU associate membership a hostile act. The Independent reported that about 70 per cent of Canada's exports go to the United States. In both files the tool is a tariff; the covered flow is Russian oil in one case and the North America-Europe tie in the other. The signal to watch is whether India is named among the top five purchasers, or waived.[3], [1]