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US Treasury Secretary issues latest threat: tariffs on China could rise to 100% | Maritime Export Logistics
Jul 30,2025
The third round of tariff negotiations between China and the United States took place in the office residence of Swedish Prime Minister Fredrik Kristensen in central Stockholm early this morning. The two sides did not issue a joint statement after the two-day talks. However, the talks were not fruitless.
US Treasury Secretary Benson attends a press conference after talks with Trade Representative Jimson Greer
Li Chenggang, the international trade negotiator and vice minister of the Chinese Ministry of Commerce, told the media after the meeting that according to the consensus of the new round of China-US economic and trade talks, the two sides will continue to push for the 24% part of the US reciprocal tariffs that has been suspended and the Chinese countermeasures to be extended for another 90 days. The decision has brought a brief buffer to the U.S.-China trade relationship, but uncertainty remains about what lies ahead.
U.S. Treasury Secretary Benson attended a news conference with U.S Trade Representative Grael after the talks. At the meeting, Mr. Bessent warned that the United States could impose tariffs of up to 100 percent on China if it continues to buy sanctioned Russian oil. He claimed that Congress has authorized President Donald Trump to impose tariffs of up to 500% on countries buying sanctioned Russian oil, a move aimed at cutting off Russia's energy revenue and prompting US allies to take similar measures.
US Treasury Secretary Benson threatened to impose 100 percent tariffs on China
Besant also expressed dissatisfaction with China's continued purchases of sanctioned Iranian oil and sales of more than $15 billion worth of dual-use technology products to Russia. The U.S. believes these products fueled Russia's military campaign against Ukraine. "Any country that buys Russian oil under sanctions should be prepared to do so," Mr. Bessent stressed.
In response to the US threat, China's Ministry of Commerce made clear that China is a sovereign country with energy needs, oil purchases will be based on China's internal policies, and China does not accept barbaric interference by any third party.
According to the latest data released by the independent international research institute CREA (Centre for Research on Energy and Clean Air), in 2024, Russia's total fossil fuel revenue reached 242 billion euros.Russia's top four energy buyers are China (33 percent), India (25 percent), Türkiye (22 percent) and the European Union (10 percent).
"Russia supplies as much oil as China needs." In mid-April, Russian Deputy Foreign Minister Andrei Rudenko expressed Russia's willingness to provide energy resources to its neighbors. Besides oil, natural gas also plays an important role in China-Russia trade. In the first two months of 2025, Russia exported 922.96 thousand tons of LNG worth $570.79 million to China, according to China's General Administration of Customs. In 2024, Russian LNG exports to China increased by 3.29% to 8.3 million tons.
At a time when China-U.S. economic and trade relations are facing many challenges, the tough threat from the United States has not shaken China's position. China firmly safeguards its energy security and national sovereignty, and has made it clear that it does not accept interference and threats from external forces. In the future, how the economic and trade relations between China and the United States will develop will still need to be kept under constant attention.
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