United States President Donald Trump will pressure G7 member nations to impose higher tariffs on India and China, the two largest buyers of Russian oil, according to a report. The move will be an attempt to compel Moscow to engage in peace talks with Ukraine.
In a video call, finance ministers from the Group of Seven leading economies are set to discuss a US proposal for new measures as President Donald Trump intensifies efforts to broker a peace deal in Ukraine, the Financial Times reported.
Recently, the European Union has also been asked by Trump to impose a 100 per cent tariff on India and China for their continued purchase of crude oil from Russia.
“Chinese and Indian purchases of Russian oil are funding Putin’s war machine and prolonging the senseless killing of the Ukrainian people. Earlier this week, we made it clear to our EU allies that if they are serious about ending the war in their own backyard, they need to join us and impose meaningful tariffs that will be rescinded the day the war ends,” the report said.
Recently, India and China have shared the diplomatic stage at the annual Shanghai Cooperation Organization summit with signals of a closer relationship among its members at a time when the world has been roiled by US trade policies and tariffs.
The two-day event, attended by more than 20 leaders of non-Western countries, was seen as showcasing Beijing’s ambition for a new global security and economic order that poses a challenge to the US.
However, recently, in a social media post, Trump hinted at softening relations with India.
“I am pleased to announce that India and the United States of America are continuing negotiations to address the trade barriers between our two nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our great countries!” he said.
India’s Commerce and Industry Minister Piyush Goyal had also said the first tranche of the India–US trade agreement is expected to be finalised by November 2025, marking a significant step in easing tensions between the two countries over tariffs and trade barriers.
“In February 2025, Prime Minister Narendra Modi and President Donald Trump instructed that ministers of both sides should make a good agreement by November 2025. The first part of that agreement, the first tranche, should be finalised by November 2025. Since March, discussions have been going on in a very good environment, and both sides are satisfied with the progress,” the minister said.