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