Trump waives new Graham Act sanctions and tariffs

US President Donald Trump signed an October sixteen order waiving the application of new sanctions and tariffs under the Graham Act targeting Russia and Iran, the White House announced.

The order sets a five-hundred-percent tariff increase on Russian goods while simultaneously waiving its application. The waiver also covers one-hundred-percent tariffs on the five largest buyers of Russian oil and gas for new purchases from October eighteen.

Trump said he had provided Congress with written certification that the waiver served US national interests. It also covers a range of sanctions and restrictions under the law.

The document expressly preserves earlier sanctions imposed through other executive orders. The decision therefore does not dismantle the entire US sanctions regime concerning Russia.

The waivers remain effective until the president or secretary of state determines that further action is appropriate following the prescribed consultations.