Updated
Updated · Fortune · Aug 7
Senate Passes 86-11 Russia Bill Granting Trump 100% Tariff Power
Updated
Updated · Fortune · Aug 7

Senate Passes 86-11 Russia Bill Granting Trump 100% Tariff Power

3 articles · Updated · Fortune · Aug 7

Summary

  • An 86-11 Senate vote advanced a Russia sanctions bill that would let Trump impose tariffs of up to 100% on the five biggest buyers of Russian oil and gas.
  • The new authority matters because courts blocked Trump’s earlier tariff moves under existing laws, while this bill gives him broader discretion and a national-interest waiver likely to withstand similar legal challenges.
  • Rand Paul and Ron Wyden failed to strip the tariff provision, and Raphael Warnock backed the bill only after receiving a written pledge that tariffs would be lifted once countries stop buying Russian energy or aiding evasion.
  • Critics say the measure leaves key terms vague — including how top importers are identified, how long tariffs could last, and what counts as allies taking significant steps — giving Trump leverage over partners such as India, China, the EU, Japan and South Korea.
  • The House is expected to take up the bill next month, extending a broader pattern of Congress delegating trade powers to presidents even after repeated fights over Trump’s aggressive tariff strategy.

Insights

How might sweeping new sanctions inadvertently accelerate the creation of an alternative, non-Western financial system led by Russia and China?
Will targeting Russia's dangerous shadow fleet finally cripple war funding, or simply spark a devastating environmental catastrophe at sea?
Could the threat of 100% tariffs on major buyers like China and India trigger a massive disruption in global energy markets?