China and Russia Hit Trade Milestone, Defying US Tariff Threats

According to figures from the Chinese General Administration of Customs, trade between China and Russia reached its highest point in July, despite the threat of secondary tariffs on Russian oil purchases. China is one of the largest purchasers of Russian crude.

China-Russia Bilateral Trade Numbers Hit $19.14 Billion in July

Bilateral trade between China and Russia, which have become two large business associates since the start of the Ukraine-Russia conflict, has flourished. Numbers from the Chinese General Administration of Customs indicate that the exchange of goods and services reached its yearly high in July, totaling $19.14 billion.

The figure represents an increase of 8.7% compared to trade registered in June, but pales in comparison to the numbers reported in July 2024, evidencing a 2.8% decrease. A relevant part of this trade corresponds to crude imports from Russia, which has become one of the main oil providers for China.

In 2024, Russia shipped 108.5 million metric tonnes to China, representing 19.6% of the nation’s crude imports. Even while these volumes have decreased by 10.9% from January to June, Russia has delivered 49.11 million metric tonnes in 2025.

While facing reductions due to the constant sanctions and roadblocks imposed on Russian crude, trade still maintains significant volumes, indicating that China is not worried about the recent threats of the U.S. government concerning Russian crude exports.

This might indicate that China is expecting a resolution of the conflict in the coming days or that it is making a gamble on the TACO trade, hoping Trump will back down from applying the additional 25% tariff to Chinese imports.

Nonetheless, these threats are real, as the Trump Administration has already made them effective against India for its recurring oil purchases. While the deadline of the current trade moratorium closes on August 12, U.S. Treasury Secretary Scott Bessent has indicated that an extension is likely to be agreed upon and that trade is in a “very good place with China.”

While Trump has indicated that they had “sort of” made a trade deal with China, these secondary tariffs and their possible implementation might complicate the closing of the referred agreement.

Read more: Trump Hits India With 50% Retaliatory Tariffs, Lula Vows to Mobilize BRICS to Fight Back

Read more: The New Trade in Town: TACO