500% tariffs on China soon? Bessent says 85 US senators ready to give Trump authority over Beijing’s Russian oil imports

US Treasury Secretary Bessent announced on Wednesday (October 15) that 85 US senators are willing to grant President Donald Trump the authority to impose tariffs of up to 500% on China for purchases of Russian oil

Bessent said, “85 US senators are willing to give President Trump the authority to put up to 500% tariffs on China for the purchase of Russian oil.”