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
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
