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10h ago

U.S. to Target China’s Russian and Iranian Oil Imports in Next Trade Talks

Scott Bessent warned Washington would impose 100 percent secondary tariffs on any sanctioned oil purchases before the mid-August truce deadline.

U.S. Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol in Washington, D.C., U.S., June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
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Overview

  • The United States and China have paused their tariff war with duties set at 30 percent on Chinese imports and 10 percent on U.S. goods until mid-August.
  • Treasury Secretary Scott Bessent said the next negotiation round will explicitly address China’s imports of Russian and Iranian oil.
  • China remains the largest buyer of Iranian oil and the second-largest buyer of Russian oil despite existing U.S. sanctions.
  • Washington plans to levy up to 100 percent secondary tariffs on any nation that continues to import sanctioned Russian crude.
  • The focus on energy security marks a shift from pure tariff disputes toward broader economic rebalancing and national security concerns.