The United States has escalated its rhetoric against China on Wednesday, with treasury secretary Scott Bessent claiming that American Senators may back a staggering 500% tariff on Chinese imports over trade with Russia. Speaking at a press conference, Bessent said 85 US senators were ready to give US President Donald Trump the authority to impose the unprecedented duties.

China under fire for Russian oil purchases

Bessent criticised Beijing for purchasing Russian energy, claiming such imports were fuelling what he described as the “Russian war machines.”“It is the purchase of Russian oil by China that fuels the Russian war machines. China buys 60%, six zero per cent, of Russian energy. They buy 90% of Iranian energy,” he said.The treasury secretary’s comments come amid repeated US warnings to China and India over continuing purchases of Russian oil.

Rare earth export restrictions spark ire

Beyond energy concerns, Bessent condemned China’s new export controls on rare earths, accusing the country of being “an unreliable partner to the world.” He criticised restrictions that block foreign militaries from using rare earth materials and warned that Washington would not be dictated by Beijing’s policies.“Make no mistake, this is China vs the world. They’ve put these unacceptable export controls on the entire world,” Bessent said.

Trump-Xi meeting still on the cards

Despite the stern warnings, Bessent reaffirmed that talks between US and Chinese leaders were still planned. Trump is expected to meet Chinese officials in South Korea later this month.“As the president said, ‘We want to help China, not hurt it’… ultimately, we are confident in the strong relationship between President Trump and President Xi,” Bessent added.