A container ship waiting to berth at a port in Lianyungang, China’s eastern Jiangsu province, on Aug. 7, 2025. AFP via Getty Images
Finance ministers from the Group of Seven (G7), including the United States, Britain, France, Germany, Japan, Italy and Canada, held a video conference on Sept. 12 to discuss a U.S. call to impose “meaningful tariffs” on China and India for purchasing Russian oil, in an attempt to pressure Russia to end its war against Ukraine.
The ministers also met to weigh in on further sanctions on Russia and a possible tariff increase on countries “enabling” Russian’s war against Ukraine, according to a statement by Bessent and U.S. Trade Representative Jamieson Greer.
