Not just India and China, EU also at risk from US 500% tariff
- Posted on January 9, 2026
- By Business News Today
- 5 Views
Not just India and China, EU also at risk from US 500% tariff
A new US bill allows for steep tariffs on countries importing Russian petroleum, potentially impacting China, India, and the EU. Russia has earned over $1.2 trillion from fossil fuel exports since the Ukraine conflict began. While China and India are major oil importers, the US action aims to pressure Russia into negotiations.