Potential Imposition of Additional Tariffs on China Over Russian Oil Purchases: Implications for Global Markets
U.S.
President Donald Trump has not ruled out the possibility of introducing new trade restrictions and tariffs targeting China in response to its involvement in purchasing Russian oil.
These statements were made recently, and although one of Trump’s leading advisors expressed caution regarding the likelihood of such measures, the prospect remains relevant.
It is known that Trump voiced this possibility on August 6th, after the administration imposed additional tariffs on Indian goods for their participation in buying Russian energy resources.
When asked about potential sanctions against China, he stated that “this could happen,” hinting at a broader trade conflict.
“We haven’t decided yet, but we intend to act — as we did with India — by imposing tariffs, and China might be next,” Trump said during a White House briefing.
Simultaneously, trade adviser Peter Navarro warned that such policies could be detrimental to the U.S., as increasing tariffs may negatively impact the domestic market.
“We already have over 50% tariffs on Chinese goods.
We don’t want to go so far as to harm ourselves,” he explained.
The introduction of additional tariffs could further complicate cooperation between China and the U.S., given Beijing’s capability to retaliate, for example, by tightening control over rare-earth mineral supplies to achieve its strategic objectives.
Relations between the two nations remain tense: previously, mutual agreements to suspend high tariffs facilitated negotiations on a long-term trade deal, easing tensions and raising the chances for a meeting between President Trump and leader Xi Jinping this year.
Nonetheless, unresolved issues persist, including critical matters such as the supply of advanced AI chips.