Add as a preferred source on GoogleTrump Waives Graham Act Duty Hikes on Goods From Russia and Top Importers
The order waives a 500% duty-rate increase on goods from Russia and a 100% increase on goods from major importers of Russian oil and gas.
President Donald Trump waived new duty-rate increases and related sanctions under the Graham Act in an Oct. 16 order, suspending measures tied to Russian goods and purchases of Russian energy.
The order sets out a 500% ad valorem increase in duty rates on goods from Russia. It also provides for a 100% increase on goods from the five largest importers of Russian-origin crude oil or natural gas if one of those countries knowingly makes new purchases of either commodity on or after Oct. 18.
Trump wrote, “I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act.”
The order keeps in place the earlier Russia-related measures under the executive orders it identifies.
The waiver remains in effect until Trump or the secretary of state determines further action is appropriate.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.