News from the Wire
Trump urges EU to enact up to 100% tariffs on China and India
Wednesday, September 10, 2025 — 16:37:53 (UTC)
London, 10 September 2025 – U.S. President Donald Trump has called on European leaders to hit China and India with tariffs of up to 100% to pressure Russian President Vladimir Putin to end the war in Ukraine. Trump’s proposal comes amid ongoing negotiations with India and signals a continuation of his aggressive tariff strategy.
This news comes as the U.S. Supreme Court has agreed to hear arguments on whether Trump’s sweeping global tariffs, enacted under the International Emergency Economic Powers Act (IEEPA), were legally justified. The expedited case will be heard in early November and represents a major test of presidential authority, with potential implications for billions in tariffs already collected and for the scope of future trade powers.
Trump’s IEEPA tariffs, which ranged from 10% to 50% on dozens of trading partners, have faced legal challenges arguing the president exceeded his authority. If the Supreme Court upholds the lower court rulings, it could force the U.S. to refund import taxes and disrupt ongoing trade agreements.
These developments highlight the intersection of trade policy, international diplomacy, and legal oversight, raising questions for multinational companies, procurement strategists, and compliance teams about future risks and operational planning.
Mark McCarthy, Chief Revenue Officer at Basware, commented: "Trade wars and tariff uncertainty introduce volatility into the global economy. For major enterprises, especially those with complex supply chains or international footprints, this creates hesitation around IT spending. CIOs and CFOs may want to delay large IT investments, reassess strategic priorities and scrutinize every dollar of spend.
Organizations are working on contingencies, but in a turbulent environment, smart enterprises don't stop investing, they get more focused on their spending and look for greater ROI on every purchase. This means looking to drive even more cost efficiency, investing in areas to mitigate operational risk, accelerating automation to do more with less, and increasing agility and visibility over the tech stack.
Michael Joseph, Compliance Expert at Napier AI, commented: “Tariffs create a breeding ground for financial crime. Fluctuating tariffs, while designed to serve economic and national security objectives, have created unintended consequences. As supply chains reorganize in response, new vulnerabilities for money laundering and other financial crimes have emerged. Our research shows that money laundering and terrorist financing cost the US economy over $600 billion per year on average.”
“For compliance professionals navigating today’s increasingly complex environment, adapting financial crime risk mitigation strategies is critical. Incorporating tariff policy changes into targeted risk assessments helps identify vulnerabilities tied to high-tariff jurisdictions and to commodities susceptible to misrepresentation. It also enables compliance teams to anticipate how recent tariff shifts might alter behavior and trading patterns. The coming years will require increased vigilance, technological innovation, and cross-border collaboration to address these emerging threats. For compliance professionals, this environment represents not just a challenge but an opportunity to demonstrate the critical value of financial crime prevention in an increasingly complex global economy.”
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Source: Company press release. 
Categories: Announcement
