US warns China 'should be ready' to face 100% tariffs over Russian oil purchases
Beijing could face sweeping U.S. trade penalties for continuing to purchase Russian oil, U.S. Treasury Secretary Scott Bessent said on July 29, Reuters reported.
"The Chinese take their sovereignty very seriously," Bessent said at a news conference in Stockholm. "We don't want to impede on their sovereignty, so they'd like to pay a 100% tariff."
"So I think anyone who buys sanctioned Russian oil should be ready for this."
His comments came hours after U.S. President Donald Trump confirmed that secondary tariffs on Russia will take effect in 10 days unless the Kremlin agrees to a ceasefire, setting the deadline for Aug. 7.
Trump initially issued a 50-day ultimatum on July 14, threatening "severe" tariffs unless a peace deal is reached within that period. On July 28, he signaled growing impatience, saying he was no longer willing to wait that long.
Despite mounting pressure from the West, Beijing has maintained strong trade and diplomatic ties with Moscow. China is the top buyer of Russian crude oil and a key supplier of dual-use components that support Russia's war machine.
Secondary sanctions, such as those proposed by Washington, would target countries and companies that do business with Russia by imposing penalties on their access to U.S. markets.
If a third-party country like China keeps buying Russian oil, exports to the U.S. could face a further 100% tariff, significantly raising prices for American consumers and squeezing Chinese exporters.
Trump, who had promised to broker a peace deal within 24 hours of taking office, has grown increasingly frustrated with what he described as Russia's delays in moving forward with peace talks.
The U.S. strategy seeks to pressure Moscow by curbing its oil income, which accounts for roughly one-third of federal revenue and remains a vital source of funding for its war effort.
Kremlin spokesperson Dmitry Peskov said on July 15 that the tariff threat was "serious," but so far Moscow has not publicly responded to the ultimatum.
