“China will always ensure its energy supply in ways that serve our national interests. Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests,” the Chinese Foreign Ministry says in a statement,  according to Associated Press.

Commenting on the talks, US Treasury Secretary Scott Bessent said that the Chinese side “Chinese take their sovereignty very seriously” in purchasing Russian oil

“We don’t want to impede on their sovereignty, so they would like to pay a 100% tariff,” Bessent said.

He called the Chinese “tough” negotiators, but assured that China’s resistance did not prevent the talks.

“I believe that we have the makings of a deal,” he added.

However, Gabriel Wildau, managing director of the Teneo consulting company, expressed doubts about the possibility of implementing US President Donald Trump’s threat to impose a 100% duty.

“Realizing those threats would derail all the recent progress and probably kill any chance” for Trump and Chinese President Xi Jinping to announce a trade deal if they meet in the fall,” Wildau emphasized.

RHM/