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Posted on 07/27/2025 6:45:53 AM PDT by marcusmaximus
U.S. Treasury Secretary Scott Bessent said Thursday that his delegation will stress the importance of China pausing its purchases of Russian and Iranian oil in a meeting with Chinese officials next week in Sweden.
Bessent said in a Fox Business interview that he believes the United States can move on to such issues concerning China, given that trade is now "in a good place."
He made the remarks as senior U.S. and Chinese officials are set to meet Monday and Tuesday in Stockholm for a round of trade talks.
"I think that the Russian war machine would grind to a halt. Iran negotiations would be much easier," he said, if China paused its buying of oil from the two countries for "three or six months."
(Excerpt) Read more at msn.com ...
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So....tell them to stop buying oil on the cheap? Good luck with that.
It’s either pause the oil sales to Russia or 100% tariffs on all their exports to the U.S.
It’s either pause the oil PURCHASES or 100% tariffs on all their exports to the U.S.
“U.S. Treasury Secretary Scott Bessent said Thursday that his delegation will stress the importance of China pausing its purchases of Russian and Iranian oil in a meeting with Chinese officials next week in Sweden.”
And where will China be getting its oil from during the pause?
“U.S. Treasury Secretary Scott Bessent said Thursday that his delegation will stress the importance of China pausing its purchases of Russian and Iranian oil in a meeting with Chinese officials next week in Sweden.”
And where will China be getting its oil from during the pause?
Read it again:
"his delegation will stress the importance of China pausing its purchases of Russian and Iranian oil"
China isn't selling oil to Russia, nor to Iran. Just the opposite.
Yes. Pause the oil purchases or face 100% tariffs on all exports to the U.S.
Russia has had two and a half years to buy all the machine tools its economy needs from China, which has the world’s foremost industrial economy.
The semiconductors its aerial weapons need can be made by a few machines, which the Russians have almost certainly acquired.
Cellphone chips are very capable, and Russia has lots of cellphones.
“So....tell them to stop buying oil on the cheap? Good luck with that.”
Obviously, no one expects China to stop buying Russian oil, as that would result in the DOUBLING of what they end up paying now and they have no interest in angering Russia. Beyond that, China has already told the Neocons to get lost. Regarding India...we’ll see, they haven’t been too happy with us in the recent past, so I wouldn’t count on them either.
So here’s the REAL QUESTION, are Americans prepared to pay DOUBLE for Chinese imports? I kind of doubt it, as we’ll end up like Europe which is literally DESTROYING their own economies in their quest to try to ‘stick it to Putin’. It’s just hard for me to see Trump taking us down the same path.
Decouple from China in stages. I think they’re essentially doing this.
1. All industries directly relating to national security should be onshored as expeditiously as possible.
2. Important consumer products need to be made domestically or sourced from reliable allies. Those allies with defense agreements that buy US military equipment.
3. Non-essential products should still be imported from China. Why? If there’s no trade with China, there’s no leverage. If the Chinese economy still needs US consumers to support it, sanctions and tariffs will still work in these situations. It’s not necessarily a good thing if China develops its domestic market and relies less on exports.
“When goods don’t cross borders, armies will.”
Covid was a good test case for determining what must be made in the US.
But, importing Chinese junk toys and gadgets is ok.
Agree with every point you made.
Trump is approaching this nicely first. Gentle persuasion. China understands it too.
Numbers.
China’s domestic oil production is not tiny. They pump about 5 million barrels/day out of Daqing and other areas. Their oil consumption is 16 million bpd. So imports must be 11 million bpd.
India consumes over 5 million bpd and produces less than 1 mbpd. They have to import the rest, obviously.
India’s consumption growth last year was 5%. China’s was flat (a surprise of sorts, not unprecedented, but they usually grow like India).
OPEC+ (of which Russia is a major part) has increased oil flow about 1 mbpd over the past year or so. Russia is authorized a few hundred K of that by the OPEC+ decision people.
Bottom line. There is nowhere else than Russia for China or India to get oil. Period. Full Stop. They would love to have more domestic oil production but they don’t. I suspect Bissent has finally been briefed on this in that the word “pause” has entered his lexicon. It may work, too. China and India could accelerate Russia imports to huge levels over 3 months, store a 6 months worth, and then pause.
The usual FR reflex when one talks of limits on oil production is to blame Biden’s pipeline policies. I suspect we can forgo that this time for China and India’s output?
There is zero chance of that happening.
“ It’s either pause the oil sales to Russia or 100% tariffs on all their exports to the U.S.”
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Hey, Marcus de Minimus, how about a tariff on ZEEPER proselytizing posts here? Did YOU know that there’s a FReepathon going on right now!
What Sumy offensive doink?
Especially coming from you, that will never happen.
Especially coming from you, that will never happen.
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