Trump asks lawmakers to add tariff authority over Iran to the Russia sanctions bill

US President Donald Trump asked lawmakers on Wednesday, 29 July 2026 (7 Mordad 1405), in the Oval Office, to amend the Russia sanctions bill so as to give him authority to impose tariffs on Iran. According to The Hill, he told reporters: "I'd like them to add Iran as tariffs, not just as sanctions." US goods trade with Iran was just $60.0 million in 2025.

The remarks came on a day when US forces began fresh strikes against Iran at 8 p.m. US time, an operation US Central Command described as a "powerful response" to Tuesday's Revolutionary Guard missile attacks on American forces. The United States had halted two weeks of fire last weekend, as diplomats sought to give peace talks "some space."

According to CNBC, the conflict, which erupted in late February 2026, has whipsawed the oil market and disrupted shipping through the Strait of Hormuz. Brent futures closed 7.9 percent higher at $90.74 on Wednesday and West Texas Intermediate settled 6.6 percent higher at $84.46, with oil slightly lower in Asian trade on Thursday.