Xi Jinping and Donald Trump
US Treasury Secretary Scott Bessent said that the US Senate is likely to support President Donald Trump in imposing a massive 500% tariff on Chinese imports. This move targets China’s trade with Russia and its purchase of Russian oil, which Bessent said fuels Russia’s war efforts.
Speaking alongside US Trade Representative Jamieson Greer at the CNBC Invest in America Forum in Washington, Bessent said, “It is the purchase of Russian oil by China that fuels the Russian war machines. China buys 60% of Russian energy. They buy 90% of Iranian energy.” He blamed China for indirectly supporting the war in Ukraine through these purchases.
Bessent added that 85 US senators were ready to back Trump and give him the authority to impose such unprecedented tariffs. In May, the Senate rejected a bid to block Trump’s tariffs in a 49-49 vote. That resolution was largely symbolic because it was unlikely to pass the Republican-led House and could have been vetoed by Trump.
Despite the rising tensions over trade, Bessent expressed optimism about ongoing discussions with Beijing. “I’m optimistic. We are now communicating at a very high level. There have been many outreaches,” he said. Both sides are holding working-level talks alongside the International Monetary Fund (IMF) and World Bank annual meetings in Washington.
Trump is also expected to attend the Asia-Pacific Economic Cooperation (APEC) summit in South Korea from October 29 to November 1. South Korea’s presidential office confirmed that Trump will arrive on October 29. Chinese President Xi Jinping is also expected to attend the forum.
Last week, Trump had threatened to cancel a planned meeting with Xi, following China’s export restrictions on rare-earth technologies. However, Bessent assured that Trump still intends to meet Xi at the APEC summit.
Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
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