US Treasury Says China Talks Could Include Russia, Iran Oil Purchases

U.S. Treasury Secretary Scott Bessent indicated that the upcoming round of U.S.-China talks may expand beyond traditional trade issues to include China's purchases of sanctioned Russian and Iranian oil, signaling a shift toward national security concerns. Bessent noted that trade relations are stable, allowing discussions to move toward these more sensitive topics. He also suggested that the U.S. may adopt a tariff-based strategy imposing up to 100% secondary tariffs on any country purchasing sanctioned Russian energy. President Donald Trump has threatened severe tariffs, around 100%, if a deal on the Russia-Ukraine war is not reached within 50 days, urging European allies to align with this approach. This development highlights a tougher U.S. stance on enforcing sanctions related to the Russia-Ukraine conflict through trade negotiations with China and broader international cooperation. The emphasis on secondary tariffs represents a strategic escalation in addressing sanctioned oil purchases amid ongoing geopolitical tensions.