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May 10, 2026
US tariffs on India and China could rise by up to 500 per cent as soon as next week, as President Donald Trump has given his nod to the bipartisan Russia Sanctions Bill, which could be used to penalise Moscow’s trading partners, including India, China, and Brazil, over Russian oil purchases.
Republican Senator Lindsey Graham, a prominent defence hawk, said the bill would give leverage against India, China, and Brazil to stop them from purchasing Russian oil and punish countries “fueling Putin’s war machine”.