The US and China face an Aug. 12 deadline to extend their tariff pause as Trump amps up threats of higher duties, citing China’s purchase of Russian oil.
China defended its Russian oil buys, with the the Chinese Foreign Ministry saying Friday that it is “legitimate and lawful for China to conduct normal economic, trade and energy cooperation with all countries around the world, including Russia.”
Trump is reportedly nearing a face-to-face meeting with Russian President Vladimir Putin, but he has amped up threats on countries buying oil from Russia as he seeks an end to the war in Ukraine. This week, Trump doubled tariffs on India, citing its oil purchases.
Meanwhile, Trump is preparing for a ruling in a court case that will rule on his authority to impose many of his sweeping tariffs. On Friday, he argued that if an appeals court rules against him in the most-watched…
