Story perspectives

U.S. Tariffs on China Linked to Europe’s Russian Oil Stance

9/16/2025

Summary

Bessent Urges European Action

U.S. Treasury Secretary Scott Bessent announced that new tariffs on China will not be imposed unless Europe does the same for China and India concerning Russian oil purchases.
He called on European nations to reduce Russian oil revenues to aid in resolving the Ukraine conflict.
Bessent indicated that substantial tariffs could potentially lead to a resolution of the war within 60 to 90 days.
China defended its oil purchases as legitimate, rejecting U.S. pressure.
Ongoing discussions between the U.S. and India suggest improving relations amid tariff negotiations.

History

Historical Context

The U.S. enacted the Emergency Petroleum Allocation Act in 1973 to address oil shortages caused by the Arab Oil Embargo, aiming to stabilize prices and reduce foreign oil dependency. Today, Secretary Scott Bessent's proposal for coordinated tariffs on Russian oil purchases echoes this historical response to energy crises, highlighting ongoing geopolitical tensions, particularly regarding the Ukraine war and energy security.

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Bessent Urges European Action

U.S. Treasury Secretary Scott Bessent announced that new tariffs on China will not be imposed unless Europe does the same for China and India concerning Russian oil purchases.
He called on European nations to reduce Russian oil revenues to aid in resolving the Ukraine conflict.
Bessent indicated that substantial tariffs could potentially lead to a resolution of the war within 60 to 90 days.
China defended its oil purchases as legitimate, rejecting U.S. pressure.
Ongoing discussions between the U.S. and India suggest improving relations amid tariff negotiations.

1 / 2