Trump Admin Pushes G7, EU To Slap Tariffs On China And India Over Russian Oil Purchase To 'End The Senseless Killing' In Ukraine

Ananya Gairola

September 12, 2025

The U.S. has urged its G7 and EU allies to join in targeting China and India with tariffs for buying Russian oil, even as President Donald Trump's trade war policies fuel a historic surge in U.S. tariff revenues.

Washington Calls For Coordinated Action

Finance ministers from the Group of Seven nations held a call on Friday to discuss new ways to increase pressure on Moscow to end its war in Ukraine, reported Reuters.

Canadian Finance Minister Francois-Philippe Champagne, who chaired the session, said ministers agreed to accelerate talks on using frozen Russian assets to support Ukraine's defense.

U.S. Treasury Secretary Scott Bessent pressed counterparts to impose tariffs on nations enabling Russia's war effort through energy purchases

In a joint statement with U.S. Trade Representative Jamieson Greer, Bessent stressed, "Only with a unified effort that cuts off the revenues funding Putin’s war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing."

See Also: Bitcoin, Ethereum, Dogecoin Hold Steady As XRP Slips Ahead Of PPI Data

Trump Turns Up Heat On India, Spares China

Trump has already imposed an additional 25% tariff on imports from India, doubling punitive duties to 50% in a bid to curb New Delhi's Russian crude purchases.

The move has strained trade talks between the two democracies.

China, however, has avoided fresh penalties despite its oil deals with Moscow. Trump has held back, mindful of a fragile trade truce with Beijing.

Bessent is set to meet Chinese Vice Premier He Lifeng in Madrid for talks on trade, TikTok divestment and financial crime measures.

Earlier on Friday, in a Fox News interview, Trump said his patience with Russian President Vladimir Putin was running out.

Tariff Revenues Shatter Records

Meanwhile, U.S. tariff collections soared to an unprecedented $30 billion in August, according to Treasury data. That marks the sixth straight monthly increase, largely driven by tariffs introduced in April that generated $23 billion alone.

The Kobeissi Letter analysis said the figure represents a leap from a typical monthly average of $7 billion.

At the current pace, annual revenue could surpass $300 billion -- a 400% jump from 2024 levels. Analysts noted that applying those funds directly to the budget could trim the deficit by the same amount.

Read Next:

Russia, China Threaten EU, US Global Power Projection with Deeper Energy Ties

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image VIa Shutterstock

Recommended

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

[Revealed] Trump's Next AI Executive Orders? - Ad

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

McDonald's plans $200 million investment to promote regenerative practices on US cattle ranches

McDonald’s said Monday it plans to invest $200 million over the next seven years to promote on cattle ranches.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

BlackRock Turns Popular Mutual Funds Into Global Equity ETFs

BlackRock turns two top mutual funds into active ETFs, giving investors global equity exposure and strategies to manage volatility.

How To Earn $500 A Month From General Mills Stock Ahead Of Q1 Earnings

General Mills offers an annual dividend yield of 4.88% ($2.44 a year). Here's how investors can pocket a regular $500 monthly.

This Gold Miner Has the Map, the Metal, and the Momentum

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Someone could win $1.8B Powerball jackpot Saturday. Odds are their identity will remain a mystery

After Iowa gas station employee Timothy Schultz won a $29 million lottery jackpot in 1999, he decided to hold a press conference. Lottery officials told him it would help him avoid being “hounded by media" since state law required his name to be disclosed anyway.

Stock Market Today: S&P 500 Futures Gain, Dow Tumbles Ahead Of Crucial Payrolls Report—Broadcom, DocuSign, Lululemon In Focus

U.S. stock futures were fluctuating on Friday following Thursday's positive moves. Futures of major benchmark indices were mixed.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Poland Shoots Down Russian Drones, First Direct NATO-Russia Clash Since Ukraine War Began

Poland's armed forces intercepted and shot down Russian drone-type objects in its airspace on Wednesday morning.

US immigration officers raid Georgia site where Hyundai makes electric vehicles

SAVANNAH, Ga. (AP) — U.S. authorities on Thursday raided the sprawling site where in southeast Georgia, shutting down construction on an adjacent factory being built to produce EV batteries.

Inside: What's Going on Behind the Scenes in DC?

Inside: What's Going on Behind the Scenes in DC? - Ad

Former CIA officer Buck Sexton just met with Trump and VP J.D. Vance - and what he uncovered inside the West Wing is stunning. With ties to Tulsi Gabbard, Mike Johnson, Kash Patel, and more, he's rushing this urgent interview to reveal shocking secrets unfolding behind the scenes right now.

Elon Musk's SpaceX Acquires EchoStar Spectrum To Transform Global Satellite Connectivity

EchoStar is selling AWS-4 and H-block spectrum to SpaceX for $17 billion, funding debt payments and expanding 5G services with Starlink Direct to Cell.

At TIFF, the mid-sized movie strives to survive

TORONTO (AP) — Anyone will tell you it’s the audiences that make the . They aren’t purely industry folks, like they are in Cannes or Venice, but more boisterous, enthusiastic moviegoers with their own rituals, like growling like buccaneers at the piracy warning that plays before each screening.

Gold Is Being Reintroduced Into the Monetary System

Gold Is Being Reintroduced Into the Monetary System - Ad

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

Homes Have Shrunk To The Smallest Average Size In 20 Years: Here's Why It Happened

Newly built homes in the U.S. are shrinking due to higher mortgage rates and affordability concerns. Buyers are adjusting expectations.

More than 60 containers fall off ship in Long Beach port

LOS ANGELES (AP) — More than 60 containers toppled off a cargo ship Tuesday morning in the Port of Long Beach, tumbling overboard and floating in the water.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before Oct 16's bombshell.

Gold's Best Year Since 1978—What's Driving The Relentless Rally?

Gold has surged 37% in 2025, topping $3,500 an ounce. Discover what's driving the rally, from Fed politics to central bank buying.

Robinhood Stock Surges Over 7% In Monday Pre-Market: What's Going On?

The stock of Robinhood Markets Inc. (NASDAQ: HOOD) surged 7.46% during the Monday pre-market trading session following Friday's news that it will be included in the S&P 500.

Could You Use Some Instant Cash Upfront?

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

Von der Leyen proposes bolder EU sanctions against Israel over the war in Gaza

ANTWERP, Belgium (AP) — European Commission President Ursula von der Leyen broke Wednesday with her pro-Israel stance and announced plans to seek sanctions and a partial trade suspension against Israel over .

OpenAI To Mass-Produce 1st Proprietary AI Chip With Broadcom, Secures $10 Billion Deal: Report

OpenAI is set to begin mass production of its first proprietary artificial intelligence chip next year through a partnership with Broadcom.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

South Korea president says Korean companies will hesitate to invest in US without better visa system

SEOUL, South Korea (AP) — South Korea’s president said Thursday that South Korean companies will likely hesitate to maintain or make direct investments in the United States if the U.S. fails to for Korean workers.

Long-wrought WTO agreement aimed at reducing overfishing takes effect

GENEVA (AP) — A World Trade Organization agreement aimed at reducing took effect Monday, requiring countries to reduce subsidies doled out to fishing fleets and aiming to ensure sustainability of wildlife in the world's seas and oceans.

[Revealed] Trump's Next AI Executive Orders?

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

Big Tech's energy-hungry data centers could be bumped off grids during power emergencies

HARRISBURG, Pa. (AP) — With the explosive growth of Big Tech's data centers threatening to overload U.S. electricity grids, policymakers are taking a hard look at a tough-love solution: bumping the energy-hungry data centers off grids during power emergencies.

Edmunds SUV comparison: New Honda Passport vs Toyota 4Runner

Toyota has released a redesigned 4Runner for 2025. This is a big deal for fans of this SUV, as the previous generation was on sale for a lengthy 14 years. The new has distinctive new styling, the latest technology features, and an available hybrid powertrain that promises increased performance without sacrificing mpg. And just like previous models, it has a rugged design that’s well suited for off-road adventures.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

China's export growth slows in August amid trade tensions with US

BEIJING (AP) — grew last month but at a slower pace than in recent months, the country's customs agency said Monday.

Carney Cuts The Red Tape, Unveils Over $43 Billion In Flagship Projects

PM Mark Carney announces first projects to be reviewed by Canada's new Major Projects Office, aiming to cut red tape and attract investments.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

Mark Cuban Stands Up For Steve Ballmer In Clippers Scandal: 'Look, Even Rich Guys Can Be Stupid'

Mark Cuban has come forward to defend Steve Ballmer, the owner of the Los Angeles Clippers, in a controversy involving the Clippers and their star player, Kawhi Leonard.

Elon Musk's Grim Warning At UK Far-Right Rally Sparks Controversy: 'Violence Is Coming, Fight Back, or Die'

Elon Musk has issued a stark warning at a far-right rally in the UK, forecasting an impending wave of violence.

This Gold Miner Has the Map, the Metal, and the Momentum

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

Detailed findings from AP investigation into how US tech firms enabled China's digital police state

BEIJING (AP) — American tech companies to a large degree designed and built China’s surveillance state, playing a far greater role in enabling human rights abuses than previously known, . They sold billions of dollars of technology to the Chinese police, government and surveillance companies, despite and that such tools were being used to , and .

Peter Schiff Blames Fannie Mae And Freddie Mac For Skyrocketing Home Prices: 'By Inflating Demand, They Jack Up Prices,' Leading To A 'Debt Trap'

Economist Peter Schiff criticized America's two most prominent housing finance institutions, blaming them for the current housing affordability crisis.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Dell Technologies Strategy Remains Steady Despite CFO Departure, Say Analysts

Dell Tech (DELL) CFO Yvonne McGill departs Sept 9, 2025 before SAM. David Kennedy (COO Global Sales) named interim CFO as JPMorgan maintains Overweight rating.

Trending Now