US President Trump puts proposed 100 percent tariffs on India and China on hold

US President Donald Trump has temporarily suspended a plan to levy additional tariffs of up to 100 percent on nations purchasing energy from Russia. Signed on Friday, October 16, an executive order granted waivers from these tariffs and several sanctions established under a new anti-Russia law, with the measures originally scheduled to take effect on October 18.

Trump pointed to US national interest as the official justification for the decision. Additionally, reports indicated that concerns regarding rising fuel prices played a significant role. Given that ongoing conflicts involving Iran, the United States, and Israel were already straining the energy market, analysts warned that new sanctions could drive oil prices even higher.

With this action, the anticipated additional tariffs targeting India and China will not proceed at this time. Nevertheless, other previously enacted US sanctions against Russia remain fully in place. The executive order preserves the option for the US president or relevant officials to implement actions again in the future based on changing circumstances, meaning the potential for tariffs has not been completely eliminated.