Gokaldas Exports, other textile stocks fall up to 4% as Trump signs Russia sanction bill

As per the latest business developments, Gokaldas Exports, other textile stocks declined up to 4% on September 21 as US President Donald Trump has signed into law the bipartisan Lindsey O Graham Sanctioning Russia and Iran Act of 2026.

The law allows Washington to slap punitive tariffs of up to 100% on nations purchasing Russian oil and natural gas.

The US Congress has officially expanded executive trade authority, granting the White House legal coverage to penalise major importers of Russian energy even as the legislation does not automatically trigger maximum tariffs upon enactment.

At 12 pm on September 21, Gokaldas Exports shares were trading 4.3% softer at Rs 696.5 apiece while those of Vardhman Textiles, Arvind were trading 3% and 2% softer, respectively.

Garware Tech Fibre, Indo Count industries shares were trading 2.5% and 1.6% softer, respectively.

The legislation gives the US President broad discretion to modify, defer or completely waive tariffs. It includes a specific national-interest provision allowing the White House to suspend tariff enforcement if it determines that doing so is necessary to protect critical US economic interests or strategic alliances. Tariff rates can additionally be adjusted over time depending on whether a trading partner takes “significant steps” to alter or shift its energy purchases.

A blanket 100% tariff on Indian goods could additionally conflict with several economic and strategic considerations confronting Washington.

* Inflation risks: Imposing 100% duties on major consumer imports could raise prices for US households and add to existing inflationary pressures.

* Ongoing trade talks: India and the US are engaged in negotiations to conclude a comprehensive bilateral trade agreement. The legislation could as a result provide Washington with additional leverage in the talks rather than represent an automatic trigger for tariffs.

* Global energy supplies: Cutting Indian refiners off from international crude markets could disrupt refined-product supplies across Europe and Asia, creating wider repercussions for global energy markets.