Sen. Graham proposes tariffs on goods from countries importing Iranian oil

Sen. Lindsey Graham (R-SC) on Wednesday introduced a bill that would require the imposition of tariffs on goods from countries that import oil or petroleum products from Iran. The “Tariffs For Terrorism Act of 2024 ” would direct the president to increase duties to “[no] less than the equivalent of 500 percent ad valorem” rate for all goods and services imported from countries that import Iranian oil, according to the bill text. The Office of the U.S. Trade Representative and...