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US calls for tariffs on Russia imports. China warns of countermeasures. Global trade threatened by sanctions.

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China Criticizes US Tariff Proposal on Russian Oil Imports

China criticizes US's proposal for G7 tariffs on Russian oil imports, calling it economic coercion and warns of countermeasures.

Updated: Sep 02, 2022 10:53

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China Criticizes US Tariff Proposal on Russian Oil Imports

Beijing, Sep 15 (PTI) – Beijing on Monday criticized the US's appeal to G7 and NATO nations to levy tariffs on China and other countries that import Russian oil, calling it an act of "unilateral bullying" and "economic coercion." China warned of countermeasures if the US's call is heeded.

Even as the Chinese and US delegations reconvened in Spain on Monday to continue negotiations on economic and trade issues, China rejected the US's push.

During a regular press briefing, the Chinese Foreign Ministry spokesperson Lin Jian stated that China’s economic and energy cooperation with various countries, including Russia, is legitimate and within legal bounds.

Lin's comments were in response to reports of the US urging G7 and NATO countries to impose extra tariffs on China for buying Russian oil, with the aim of pressuring Beijing to help resolve the Russia-Ukraine conflict.

“The US's actions are typical of unilateral bullying and economic coercion, severely undermining international trade regulations and threatening the security and stability of global industrial and supply chains,” Lin remarked.

"Evidence has shown that coercion is ineffective in solving problems. China maintains a consistent stance on the Ukraine crisis, advocating for dialogue and negotiation as the only feasible solutions," he added.

US President Donald Trump recently advocated for NATO nations to impose tariffs of 50 to 100 percent on China and cease oil purchases from Russia to help resolve the Ukraine conflict.

On the same day, Treasury Secretary Bessent, in a call with G7 finance ministers, reiterated President Trump's request for G7 nations to join the US in imposing tariffs on countries buying oil from Russia to conclude the war in Ukraine.

Lin emphasized that since the Ukraine crisis began, China has maintained an impartial and objective position, promoting peace talks.

“We are firmly against making China the scapegoat and oppose illegal, unilateral sanctions and long-arm jurisdiction,” Lin noted, adding that if China's legitimate rights and interests are threatened, it will respond decisively to protect its sovereignty, security, and development interests.

Lin also pointed out, “The majority of countries, including the US and Europe, continue trade with Russia. The normal commercial exchanges and cooperation between Chinese and Russian companies adhere to WTO rules and market principles, thus should remain unaffected by third-party interference.”

On Saturday, China's Foreign Minister Wang Yi also dismissed the US call to G7 nations, asserting that war doesn't solve issues and sanctions only exacerbate them.

While Bessent's statement did not specify any country, the US has frequently criticized India and China for purchasing Russian oil even though no tariffs are imposed on Beijing for it.

The Trump administration has implemented a 50 percent tariff on India, including a 25 percent charge specifically for Delhi’s acquisition of Russian oil.
(Only the headline of this report may have been reworked by Editorji; the rest of the content is auto-generated from a syndicated feed.)

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