Bessent warns China of 100% tariff over Russian oil purchases. China replies coercion fails. Firms quietly hedge for up to 500% secondary tariff risk.

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Scott Bessent warned that China could face 100% tariffs if it continues buying Russian oil, citing a pending bill that allows secondary duties up to 500%.
https://kyivindependent.com/china-should-expect-100-tariffs-for-buying-russian-oil/
“The Chinese take their sovereignty very seriously. We don’t want to impede on their sovereignty, so they’d like to pay a 100% tariff,” Bessent said.
https://www.reuters.com/business/energy/bessent-warns-china-russian-oil-purchases-that-could-bring-100-tariffs-2025-07-29/

Trump already hit India with a 25% tariff under the same reasoning, citing continued Russian oil purchases. China responded sharply. Foreign Ministry spokesperson Guo Jiakun said, “Tariff wars have no winners. Coercion and pressuring will not solve anything. China will firmly safeguard its sovereignty, security and development interests.”
https://timesofindia.indiatimes.com/business/international-business/us-china-trade-beijing-warns-washington-against-coercion-on-russian-oil-vows-to-defend-energy-sovereignty/articleshow/123003386.cms

Few outlets noted that Chinese importers are already hedging future shipments to blunt impact from extreme tariff bands. Some forward contracts quietly priced in up to 300% risk exposure. Industry players say margin compression is becoming structural if U.S. moves beyond the symbolic 25% tier. China’s energy strategy remains cost-first, and political signaling from Washington is now treated as background noise.