Stories
Textile Stocks Drop as Trump Signs Russia Sanction Bill, Threatening Tariffs
- •Gokaldas Exports and other textile stocks fell up to 4% after US President Donald Trump signed the Lindsey O Graham Sanctioning Russia and Iran Act of 2026.
- •The new law allows Washington to impose punitive tariffs of up to 100% on nations, including India, that purchase Russian crude oil and natural gas.
- •Shares of Gokaldas Exports, Vardhman Textiles, Arvind, Garware Tech Fibre, and Indo Count Industries saw declines following the news.
- •The legislation grants the US President broad discretion to modify, defer, or waive tariffs, with a national-interest provision allowing suspension to protect US economic interests or strategic alliances.
- •Potential 100% tariffs on Indian goods face challenges including inflation risks for US households, ongoing US-India trade talks, and potential disruptions to global energy supplies.
Key Questions Answered
Textile stocks like Gokaldas Exports, Vardhman Textiles, and Arvind dropped up to 4% after US President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law. The legislation empowers Washington to enforce punitive tariffs of up to 100% on nations that purchase Russian crude oil and natural gas.
The legislation provides the US President broad discretion to modify, defer, or completely waive tariffs. It contains a national-interest provision that allows the White House to suspend enforcement to safeguard critical US economic interests or strategic alliances, with rates also adjustable based on a partner's energy shifts.
A complete 100% tariff on Indian goods could create major complications, including heightened US household inflation from expensive consumer imports, potential disruptions to ongoing bilateral trade negotiations, and wider repercussions for global energy markets if Indian refiners are cut off.
