Treasury Secretary Scott Bessent said on July 29 that he has warned the Chinese regime that it could face sweeping U.S. trade penalties if it continues to purchase oil from Russia amid its ongoing invasion of neighboring Ukraine.
Bessent made the comments during a news conference in Stockholm following two days of U.S.–China trade talks in the Swedish capital alongside Chinese Vice Premier He Lifeng.
He said Chinese officials responded to the warning by saying China was a sovereign nation with energy needs, and that decisions regarding oil purchases would be based on the nation’s internal policies.
“The Chinese take their sovereignty very seriously,” Bessent told reporters. “We don’t want to impede on their sovereignty, so they’d like to pay a 100 percent tariff.”…