PNN – The Associated Press wrote that the United States and China may reach a trade agreement on many differences, but there is no room for agreement on buying oil from Iran and Russia.
According to the report of Pakistan News Network, the Associated Press has written, simultaneously with the US-China trade negotiations, that there is a possibility of agreement between Beijing and Washington on many issues, as well as the removal of punitive tariffs, but the two countries are miles apart on one issue; the US request for China to stop buying oil from Iran and Russia!
After two days of trade talks in Stockholm, China’s Foreign Ministry announced in response to the US threat of a 100% tariff: China will always secure and guarantee its energy in ways that meet our interests.
Another part of the statement states: Threats and pressure will not lead anywhere. China will resolutely defend its sovereignty, security and development interests.
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This response is notable because Beijing and Washington are sending optimistic and good-faith messages about reaching an agreement to maintain stability in the trade relations between the two major economic powers. This response confirms China’s belief in its resolve and its unwillingness to back down in the face of the administration of US President Donald Trump, especially when trade is linked to Beijing’s energy and foreign policy.
US Treasury Secretary Scott Besant told reporters after the trade talks that when it comes to buying oil from Russia, the Chinese are very serious about their sovereignty.
Besant called the Chinese “tough” negotiators last Thursday, but said their toughness had not stopped the talks. “I think we have the conditions to reach an agreement,” he added.
Gabriel Wildau, CEO of consulting firm Teneo, says: I have no doubt that Donald Trump will actually implement the 100 percent tariff. Carrying out these threats would derail all recent progress and likely destroy any chance for Trump and Chinese President Xi Jinping to announce a trade deal.
The United States is seeking to reduce the budgets of their armed forces and armies in an effort to limit Russian and Iranian oil sales, which are a major source of income for both countries.