Bessent says US won’t hit China with tariffs over Russian oil unless Europe goes first

MADRID: U.S. Treasury Secretary Scott Bessent said on Monday that the Trump administration would not impose additional tariffs on Chinese goods to halt China’s purchases of Russian oil unless European countries hit China and India with steep duties of their own.

Bessent told Reuters and Bloomberg in a joint interview that European countries needed to play a stronger role in cutting off Russian oil revenues and bringing its war in Ukraine to an end.

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“We expect the Europeans to do their share now, and we are not moving forward without the Europeans,” Bessent said, when asked whether the U.S. would impose Russian oil-related tariffs on Chinese goods after Trump slapped an additional 25% duties on Indian imports.