NEW YORK: US President Donald Trump is a very strong believer in tariffs as a tool of national policy and the Russia sanctions act gives him that authority to influence what happens in the Ukraine conflict, US Secretary of State Marco Rubio said on Wednesday.
Last Friday, Trump signed into law the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026', which authorises him to impose tariffs of up to 100 per cent on countries buying Russian oil and gas, including China and India.
The law is named after late Senator Lindsey Graham, who had proposed a sanctions bill imposing 500 per cent tariffs on countries for buying Russian oil.
"The law gives the President tariff authority. It's the first time I think in like 70 years that Congress has granted the President tariff authority. The President is a very strong believer in tariffs as a tool of national policy. So this is good,” Rubio told reporters.
Responding to a question on the sanctions act, Rubio said the law also has and gives the President national security waivers, which allows him to apply them as needed in individual cases.
"So, what the president has now is a tool in his toolbox that he could use not just to influence what happens in Russia-Ukraine and in that conflict, but potentially what's happening with Iran as well. How he'll use it is up to him to decide and up to him to announce,” Rubio said while addressing a press conference after his meeting with External Affairs Minister S Jaishankar, who raised with his American counterpart India's "interests and concerns" about the Russia act.
In his address to world leaders at the UN General Assembly on Tuesday, Trump said he signed the “powerful new law” that provides him with “enormous new tariff authorities” on major buyers of Russian oil, including India and China.
"Last week, in honour of Senator Lindsey Graham, I signed a powerful new law passed by Congress providing me with enormous new tariff authorities - and if necessary, I will use them,” Trump said. "It is time to stop the killing."
India has said it remains firmly committed to ensuring energy security for its 1.4 billion people, and it will continue to do so through diversified sourcing, in response to the US’ Russia sanctions legislation.