Brief by Shorts91 Newsdesk / 06:21am on 16 Sep 2025,Tuesday International
US Treasury Secretary Scott Bessent declared the Trump administration won't impose new tariffs on Chinese goods over Russian oil purchases unless European nations implement steep duties first. Speaking to Reuters, Bessent emphasized Europe must strengthen efforts to cut Russia's oil revenues. He guaranteed the Ukraine war would end within "60 or 90 days" if Europe imposed substantial secondary tariffs on Russian oil buyers. During Madrid talks covering trade and TikTok, Bessent reminded Chinese officials of existing Indian tariffs while Trump urged 50-100% European tariffs on China and India. China rejected these proposals through Foreign Minister Wang Yi, calling for multilateral cooperation over sanctions. Bessent criticized European countries still purchasing Russian oil or refined petroleum products from discounted Russian crude. (PC: Reuters)
