China Will Face 100% Tariffs for Purchasing Russian Oil, Says Basent

The United States has warned China that importing sanctioned Russian oil could result in a 100% import tariff on Chinese goods. This was stated by U.S. Treasury Secretary Scott Basent.

According to Reuters, while summarizing the results of two days of trade negotiations between the U.S. and China in Stockholm, Basent also expressed dissatisfaction with China's continued purchase of Iranian oil, which is also under sanctions, and the sale of dual-use goods to Russia, which directly affects the prolongation of the war in Ukraine.

According to the U.S. Treasury Secretary, the Chinese representatives responded to these warnings by stating that they intend to continue protecting their “energy sovereignty.” “The Chinese take their sovereignty very seriously, and we will not infringe upon it if they decide to pay a 100% tariff,” Basent emphasized.

The Secretary particularly highlighted a bill being discussed in Congress that would impose a 500% tariff on imports from countries purchasing Russian energy resources. “I believe that everyone buying Russian oil should be prepared for this,” Scott Basent said during a press conference.