WASHINGTON: The following spherical of US-China talks may embrace Chinese language purchases of Russian and Iranian oil, US Treasury Secretary Scott Bessent stated on Monday (Jul 21), a transfer that may shift the main target of commerce negotiations into nationwide safety points.
US President Donald Trump has imposed recent tariffs on allies and rivals alike this yr, and Washington and Beijing in April quickly hiked duties on one another’s items in a tit-for-tat escalation.
However after high-level talks in Geneva and London, the world’s two greatest economies briefly lowered tariff ranges till mid-August whereas discussions continued.
“I feel commerce is in a superb place,” Bessent advised CNBC in an interview. “And I feel now we are able to begin speaking about different issues.”
“The Chinese language sadly, are very giant purchasers of sanctioned Iranian oil, sanctioned Russian oil. So we may begin discussing that,” he stated.
China’s place as the principle purchaser of Iranian oil has served as a key lifeline for Tehran as its economic system is battered by worldwide sanctions.
The world’s second greatest economic system can be a key purchaser of Russian vitality.
