According to the Financial Times and Reuters, the US government is urging G7 members to impose high tariffs on China and India due to their continued purchases of Russian oil, which the US believes is funding Moscow's war machine. Sources familiar with the matter revealed that the proposed tariffs could range from 50% to 100% and that the issue will be formally raised at the upcoming G7 finance ministers' video conference. When asked about this, a US Treasury spokesperson stated that China and India's purchases of Russian oil "fund Putin's wars" and that these high tariffs, if implemented, would be lifted after the war ends.

If this policy is coordinated by multiple G7 countries, it would mark another escalation in the US's external economic pressure tactics. The previous substantial move, imposing a 50% tariff on India, has been replaced by a shift in focus to demanding cross-border coordination and expanding tariff threats against China, reflecting the US's attempt to influence international politics through tariffs. The EU has reacted cautiously to this proposal, with many countries concerned that such measures could trigger retaliation, impacting local inflation and energy costs. Furthermore, trade negotiations with India and China have not yet been completely suspended.

For freight forwarders exporting from China and India, this news undoubtedly creates greater uncertainty. If China or India continues to purchase large quantities of Russian oil, most of their exports could face the risk of sudden and significant tariffs. Furthermore, international buyers may become more cautious in their purchases and increase compliance scrutiny. Overseas market strategies may need to be reassessed, and the stability of trading partners and supply chains will be challenged.

Hanyue International will closely monitor G7 developments, prepare response plans for tax rate changes, and proactively adjust product pricing, contract terms, and market diversification. Hanyue International will continue to monitor the situation in the United States and, leveraging its global transportation network and risk management experience, provide shippers with transportation risk assessments, supply chain solutions, and compliance guidance. For the latest information or customized response plans, please contact our customer service.