Trump to Impose 500% Tariffs on China Over Russian Oil Purchases

U.S. Treasury Secretary Scott Bessent announced that President Trump is preparing to impose tariffs of up to 500% on Chinese imports. This action aims to address Beijing"s involvement in financing Russia"s war economy through oil purchases. The proposed measure has garnered significant support, with 89 out of 100 senators backing it.

This development follows ongoing concerns regarding China"s economic ties to Russia amid the ongoing conflict. The tariffs are intended to curb these financial relationships and limit China"s role in supporting Russia"s military efforts.

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