US Treasury Secretary Scott Bessent said the Trump admin will hold off on new tariffs against Chinese goods over Russian oil purchases unless European countries also impose steep duties, stressing that Europe must play a bigger role
US Treasury Secretary Scott Bessent said on Monday the Trump administration would not impose new tariffs on Chinese goods over Beijing’s purchases of Russian oil unless European countries also applied steep duties of their own.
In an interview with Reuters, Bessent stressed that Europe must play a stronger role in cutting off Russia’s oil revenues to help end the war in Ukraine.
Call for stronger European role
“We expect the Europeans to do their share now, and we are not moving forward without the Europeans,” he said when asked if Washington would introduce oil-related tariffs on Chinese goods after President Donald Trump’s decision to add a 25 per cent duty on Indian imports.
Talks with China in Madrid
Bessent said he reminded Chinese officials during talks in Madrid—covering trade and TikTok—that the US had already targeted Indian goods. He added that Trump has urged European nations to impose tariffs of 50 to 100 per cent on China and India to squeeze Moscow’s energy revenues. According to him, the Chinese side responded that oil purchases were a “sovereign matter.”
He also criticised European countries still buying Russian oil or petroleum products refined in India from discounted Russian crude, saying such trade helped finance a war “in their own back yard.”
“I guarantee you that if Europe put on substantial secondary tariffs on the buyers of Russian oil, the war would be over in 60 or 90 days,” Bessent said, arguing such measures would cut off Moscow’s main source of income.
Plans for tougher sanctions
Bessent added that the US was ready to work with Europe on tougher sanctions against Russian firms, including oil majors Rosneft and Lukoil, and to explore greater use of frozen Russian sovereign assets seized after the 2022 invasion of Ukraine.
China pushes back
Meanwhile, China has rejected Trump’s call for Nato to impose tariffs of 50 to 100 per cent on Beijing over its purchases of Russian oil, saying sanctions would only worsen global tensions.
Speaking in Ljubljana after talks with Slovenia’s foreign minister, Chinese Foreign Minister Wang Yi said Beijing does not start wars and instead seeks to promote peace and dialogue.
“China does not participate in or plan wars. What we do is encourage peace talks and push for political solutions to hotspot issues,” Wang said.
He argued that conflicts cannot be resolved through war and urged countries to uphold multilateralism, strengthen cooperation, and follow the principles of the UN Charter. Wang added that China and Europe should act as partners rather than rivals in addressing today’s global challenges.
Trump’s Nato tariff threat
His remarks came shortly after Trump proposed steep Nato tariffs on China, claiming such measures would pressure Beijing to cut support for Russia and help bring the Ukraine war to an end.
