Trump's Tariff Theatre: A Complex Web of War and Economics
US President Donald Trump's diary is a 'theatre of war' as he navigates multiple conflicts and crises. Last week, he spoke with Russian President Vladimir Putin, but the truce only lasted over the weekend before fighting resumed on Monday.
The Graham law, signed by Trump on Friday evening, sanctions Russia and extends the Iran Sanctions Act for five years. It also authorizes tariffs of up to 100% on countries buying the most Russian oil, with India being one of them.
India's strategic autonomy has allowed it to navigate past sanctions, exploring hydrocarbon geographies from Venezuela to Iran and Russia. However, the law stipulates that Trump must impose the levies within 30 days of enactment.
The US is choosing to pay for this law twice, once at the pump and once at the ballot, as the national debt has passed $40 trillion in August and interest rates have been hiked to 3.75-4% by the new Fed Chair Kevin Warsh.