Tariffs for Terrorism Act of 2024

This bill requires the President to impose a minimum 500% tariff on all goods and services imported into the U.S. from any country that purchases, trades, consumes, or imports crude oil or petroleum products from Iran. It mandates quarterly reviews to identify such countries and adjust tariffs accordingly, with tariffs applying in addition to existing antidumping or countervailing duties. The tariffs would remain in effect until the President certifies to Congress that a country no longer engages in these oil transactions. The law directly affects U.S. importers and foreign countries importing Iranian energy, with no specified exemptions for specific goods or services.