The House lawmakers on Wednesday passed legislation paving the way for tough new sanctions on Russia that will target financial institutions and the energy industry, which has largely financed the assault on Ukraine. The legislation, which now sits with President Donald Trump for signing, has been hailed for its harsher measures on Russia, with Ukrainian President Volodymyr Zelensky calling it “an extremely powerful tool.” However, Democratic leaders have expressed grave concern over the broader tariff authority it affords to Trump. The legislation allows Trump to impose tariffs of up to 100% on countries that make “new purchases of crude oil or natural gas” originating from Russia, or any country among the top five importers of Russian oil or gas over the last 12 months.
According to the Center for Research on Energy and Clean Air (CREA), the top three purchasers of Russian oil and gas in August were China, India, and Turkey. Deborah Elms, head of trade policy at the Hinrich Foundation, says Trump’s previous ambition to introduce tariffs using any available avenue has ignited the concern among Democrats. It's really at the discretion of the Executive Branch.” The bipartisan effort, named in honor of the late Republican Sen.
Lindsey Graham of South Carolina, who spent the final year of his life building support for the measure, passed with 262 votes to 159. Some 58 Democrats voted with the majority of Republicans in favor of the bill, despite objections from party leadership. House Minority Leader Hakeem Jeffries led the Democratic opposition to the bill, raising concerns over giving Trump new tariff powers.
After the bill passed, Jeffries told TIME that Trump “cannot be entrusted with new powers to impose tariffs that will further raise costs for American families.” TIME has reached out to the White House for comment. Shortly after his return to office, Trump implemented global tariffs as part of what he called a “Liberation Day.” Although the majority of those were shut down by a Supreme Court ruling in February that deemed them illegal, his general use—and threatened use—of tariffs has continued to fuel international tensions. Tariffs introduced since Trump’s return have already made their mark on American households, experts say.
The Yale Budget Lab in late August estimated that household costs due to tariffs “total about $1,100 annually under current law.” The U.S.-Canada has raised fresh concerns over the financial impact on American consumers. Many Americans are already struggling with the cost of living crisis. The Urban Institute in April found that “49% of people in American families don’t have the resources to cover essential expenses to live securely in their community.” Rep.
Gregory Meeks of New York, the top Democrat on the Foreign Affairs Committee, has also raised concerns about the potential impact on American families. In the weeks leading up to the Russia sanctions bill, he urged lawmakers to find a “compromise that properly punishes Russia for its illegal war of aggression against the Ukrainian people, while protecting the American people from reckless inflationary tariffs.” In a statement to TIME after the vote, Meeks said he found it "regrettable" that lawmakers chose not to “place more guardrails” on the bill’s tariff authorities. Similar concerns were raised by Rep.
Extract — continue reading at the source.
