Trump suspends 100% tariff move against India, China

US President Donald Trump has put on hold, for now, a plan to impose additional tariffs of up to 100 percent on countries that buy energy from Russia.

In an executive order signed on Friday (October 16), he granted waivers from tariffs and several sanctions set under a new anti-Russia law. He cited US national interest as the reason for the decision.

According to reports published on Saturday (October 17), the new measures were due to take effect from October 18. Trump's executive order has put their implementation on hold for now. The order says the US president or relevant officials may decide to take action again in the future, depending on the circumstances. The possibility of imposing tariffs has therefore not been ruled out entirely.

Reuters reports that fears of rising fuel prices were also an important consideration behind the decision. With Iran's conflict with the United States and Israel already putting pressure on the energy market, analysts believe new sanctions could have pushed oil prices higher still. In the executive order itself, however, Trump directly cited US national interest as the reason for the waiver.

As a result of the new decision, the proposed additional tariffs on India and China will not take effect for now. However, the earlier US sanctions against Russia have not all been lifted. The executive order makes clear that other previously issued sanctions will remain in force. It also leaves room for new measures to be taken in future, depending on the situation.