"Tariff strike on oil buyers": the US Senate passed a law on secondary sanctions against Russia and Iran

The US Senate has passed sweeping secondary sanctions legislation that gives the Trump administration broad powers to impose tariffs up to 100% on countries that don't comply with sanctions against Russia and Iran. Several EU nations are potentially at risk of these duties. Whilst the bill targets energy buyers, it establishes a precedent for aggressive US tariff action that could have implications for other traded goods, including wine. Trade experts warn the measures could trigger retaliatory trade wars and affect global supply chains.