Anand Sharma urges India to reject new US tariff, pause trade deal
New Delhi, Sep 20 (PTI) India must reject the latest US tariff to defend its sovereign independence and hold off on signing of the "unequal" trade deal until the issues are resolved, Congress leader Anand Sharma said on Sunday.
In a statement, Sharma said the Lindsay Graham Act, a bill signed into legislation by US President Donald Trump, will have serious implications for India's energy security, economy and trade.
The Act that empowers Trump to impose 100 per cent tariffs on oil-buying countries is a matter of "grave concern," Sharma said.
The former commerce and industry minister said India is a major importer of Russian crude oil, accounting for over half of its crude petroleum imports this year, as the US-Israel attack on Iran caused a serious disruption of oil and gas supply globally and sent prices shooting up.
"This unjustified action has serious implications for India's energy security, Economy and trade," he said.
"The arbitrary targeting of strategic partner countries including India is unjustified, unacceptable and condemnable. It is also selective and discriminatory as US will not be imposing it on Turkey, Hungary and slovakia who are NATO members and supporting Ukraine in its war with Russia," Sharma said.
"India must firmly reject any such imposition and defend its sovereign independence of trading and economic cooperation with its partner countries. We should put on hold signing of an unequal trade deal with US until the tariff issues are fully resolved," the former Union minister added.
Sharma termed as punitive the fresh tariffs, which come in addition to the existing tariffs under Section 301 of US Trade Act of 1974 and the Trade expansion Act of 1962.
"President Trump's Tariff regime and action violate US own International commitments and undertakings as a member of WTO. It also undermines the principle of sovereignty and equality.
"It is Ironic that US itself is annually importing Uranium and fertilisers valuing over four billion US Dollars. These have been carefully kept out of the ambit of Graham Act. This is hypocrisy and double standards," the Congress leader said.
Trump has signed the Sanctioning Russia and Iran Act, which seeks to impose steep levies on Moscow and its top energy buyers such as China and India.
According to the White House, Trump on Friday signed into law the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, which authorises and expands statutory sanctions, tariffs, and prohibitions on Russia and extends existing sanctions on Iran.
The House of Representatives on Wednesday passed the Sanctioning Russia and Iran Act, which seeks to impose sanctions on Russia's leadership and energy sector, as well as on collaborators in Moscow's defence industry and its so-called shadow fleet.
The Act also authorises Trump to impose tariffs of up to 100 per cent on countries buying Russian oil and gas, including China and India.
The law gives Trump wide discretion over implementation, including which countries face tariffs, the tariff rates imposed, and whether sanctions provisions are waived.
The law comes into effect within 30 days of the signing by the president and requires him to impose duties of up to 100 per cent on goods imported from countries that are the top five purchasers of Russian crude oil or natural gas by total volume during the 12 months preceding enactment.
