Days after US President Donald Trump pushed his double-edged comments about hitting China with additional 100% tariffs, while also wanting to “help” the second-largest economy, Scott Bessent targeted the Asian country once again. Laying out an even more vicious threat of hefty duties, the US Treasury Secretary said on Wednesday (US time) that a significant numbers of American senators were on board with the MAGA leader imposing 500% tariffs on China.
500% tariffs on China expected?
“85 US senators are willing to give President Trump the authority to put up to 500% tariffs on China for the purchase of Russian oil,” Bessent said during a press conference. Having already repeatedly hit out at Beijing and India for their purchase of Russian oil, he reiterated his claims about the Asian nations fuelling the “Russian war machines”
“It is the purchase of Russian oil by China that fuels the Russian war machines. China buys 60%, six zero percent, of Russian energy. They buy 90% of Iranian energy,” he went on. In addition to slamming the country’s Russian links, he even blasted its plans to limit exports of rare earths, calling it an “unreliable partner to the world.
US-China’s conflicted trade ties
While also extending the proposal for a meeting between both the US and Chinese leaders, Donald Trump and Xi Jinping, respectively, he continued to unload his rant about China’s new export controls. “As the president said ‘We want to help China, not hurt it’… ultimately, we are confident in the strong relationship between President Trump and President Xi,” Bessent said.
He further claimed that Trump was looking forward to meeting Chinese officials in South Korea later this month. At the same time, he spoke out against new restrictions announced by the Chinese government, which disallowed rare earth materials’ exports and blocked foreign militaries from using them.
“Make no mistake, this China vs the world,” the top US official said during the conference on global trade relations. “They’ve put these unacceptable export controls on the entire world.” Bessent further asserted that the US and its allies will “neither be commanded nor controlled” by a “group of bureaucrats in Beijing.”
Trump previously wrote on Truth Social, “The USA wants to help China, not hurt it!!!” Trump said in Sunday’s post on Truth Social, adding that “respected President Xi (Jinping)… doesn’t want Depression for his country.” On the flip side, China aggressively countered Trump’s tariff threats, labelling them a “typical example of ‘double standards.'”
Vice President JD Vance also joined the rhetoric over the weekend, urging Beijing to “choose the path of reason” amid the ongoing trade rift, as the US “has more cards” to play than China.
Shortly after his comments emerged during a Fox News appearance, Trump wrote back on social media, “Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!”
