FX.co ★ US says no additional tariffs on China unless Europe acts first

An interesting situation is unfolding in the global hydrocarbons market, and, as always, the issue of tariffs is front and center. According to Scott Bessent, the United States will not introduce additional tariffs against China for purchasing Russian oil unless Europe takes similar measures against China.

“We expect the Europeans to do their share now, and we are not moving forward without the Europeans,” Bessent told journalists in Madrid, commenting on the possibility of restrictions on Chinese goods.

According to the official, European countries should play a more active role in reducing Russia’s oil export revenues. The completion of the Russia–Ukraine conflict will also be an important milestone, Bessent added.