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US Pressures G7 to Impose 100% Tariff on China! Plastic Trades in a Narrow Range Today, PS and PE Slightly Down by 50

Plastmatch 2025-09-12 10:57:03

According to the latest news, the Trump administration plans to pressure G7 countries at the G7 Finance Ministers' video conference on September 12, 2025, to impose tariffs ranging from 50% to 100% on China and India as punishment for their purchase of Russian oil.

Screenshot of the FT report from the UK.

The United States will formally present and discuss this proposal at the G7 Finance Ministers' virtual meeting on September 12, 2025.

Canada, serving as the rotating presidency of the G7, has confirmed the meeting, which will be held via video conference on Friday to discuss "further measures to increase pressure on Russia and limit its war machine."

⚠️ Tariff Level: The proposed tariff rate is 50% to 100%, and the tariff will remain in effect until both countries stop purchasing Russian oil or the war in Ukraine ends.

⚠️ Implementation method: This will be "secondary tariffs," which do not target Russia directly but rather the countries that continue to trade with Russia.

A spokesperson for the U.S. Treasury Department said, "Tariffs will be rescinded the day the war ends."

The G7 members include the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom (with the European Union as an observer).

The United States hopes that G7 countries will coordinate actions to amplify pressure. The Trump administration regarded this as part of its "Peace and Prosperity Administration," aimed at forcing Russia to negotiate.

On Wednesday this week, Trump demanded that the EU impose tariffs of up to 100% on China and India, but he is now expanding the pressure to include G7 allies as well.

However, EU sources say that the bloc is unlikely to impose high tariffs on major buyers of Russian oil such as India or China, as demanded by US President Trump.

According to sources, the EU's approach to tariffs is different from that of sanctions; tariffs are only implemented after a typically lengthy investigation lasting several months to establish a legitimate and reasonable basis.

So far, the European Union has only imposed tariffs on fertilizers and agricultural products from Russia and Belarus in the context of the war in Ukraine.

Latest Plastic Prices on September 12

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US Pressures G7 to Impose 100% Tariff on China! Plastic Trades in a Narrow Range Today, PS and PE Slightly Down by 50

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