Global Economy News
LAST UPDATE: September 13, 2025
US Treasury calls on G7, EU to impose tariffs on China, India over Russian oil purchases
The U.S. Treasury urged G7 and EU partners to impose high tariffs on China and India, arguing that their purchases of Russian oil contribute to financing Russia’s war in Ukraine.
Insight
This move signals a more active use of trade policy for geopolitical aims; it may strain bilateral relations and could trigger counter-measures.
Bessent to Talk Trade, TikTok With Chinese Officials in Madrid
U.S. Treasury Secretary Scott Bessent is set to meet with Chinese Vice Premier He Lifeng in Madrid to discuss trade, national security issues, and specifically the regulation and future of TikTok among other bilateral tensions.
Insight
The meeting underscores the ongoing tensions over digital regulation, content platforms, and economic security; indicates U.S. pushing for more leverage over China in trade/digital governance.
US to urge G7 to impose high tariffs on China and India over Russian oil purchases
The U.S. will push G7 partners to levy steep tariffs on China and India in response to their purchases of Russian oil, arguing the move will cut revenue to Moscow and should be lifted once the war ends.
Insight
If advanced, the plan would broaden sanctions architecture into a G7-wide trade weapon, risking friction with India and complicating already fraught U.S.-China ties while testing EU unity on Russia policy.
Bessent to Talk Trade, TikTok With Chinese Officials in Madrid
U.S. Treasury Secretary Scott Bessent is set to meet China’s Vice Premier He Lifeng in Madrid to discuss trade issues, national security concerns and the future of TikTok, alongside topics like export controls and AML cooperation.
Insight
The meeting signals an attempt to manage tensions through high-level dialogue while digital platforms and tech controls remain central leverage points in U.S.-China economic relations.
