FX.co ★ China Slams U.S. Tariff Push Over Russian Oil Ties

On Monday, China condemned a U.S. proposal recommending that its allies, including the European Union and the Group of Seven, impose tariffs ranging from 50% to 100% on Chinese imports. This action is in response to China’s continued purchase of Russian oil. The Chinese commerce ministry labeled this move as “a typical act of unilateral bullying and economic coercion,” arguing that it breaches earlier agreements made between Chinese and U.S. leaders and threatens to destabilize global trade and supply chains. The ministry cautioned that "should any actions harm China’s interests, necessary countermeasures will be pursued to safeguard its legitimate rights and interests," although specific retaliatory measures were not detailed. Despite the strong criticism, Beijing reiterated its preference for resolving trade and economic conflicts with Washington through "dialogue and consultation based on equality."