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US President Donald Trump said on Friday that he does not yet see the need to impose retaliatory tariffs on countries such as China for continuing to purchase Russian oil, though he left open the possibility of doing so in the near future. Speaking after a high-profile summit with Russian President Vladimir Putin in Alaska, Trump told Fox News host Sean Hannity that action against Beijing may become necessary within “two or three weeks.”

The president has consistently warned that Moscow could face tougher sanctions if it fails to make meaningful steps towards halting the conflict in Ukraine, reported Reuters. He has also signalled that so-called “secondary sanctions” may extend to countries that continue to buy Russian crude, with China and India ranking as the largest purchasers.

India Hit With 25 Per Cent Tariff, China Yet to Face Action

Just last week, Trump levied an additional 25 per cent tariff on Indian goods, explicitly linking the decision to New Delhi’s ongoing oil imports from Russia. No equivalent measures have yet been applied to China, despite its significant purchases.

When asked if Beijing would face similar penalties following the lack of progress in discussions with Putin, Trump replied: “Well, because of what happened today, I think I don’t have to think about that. Now, I may have to think about it in two weeks or three weeks or something, but we don’t have to think about that right now. I think, you know, the meeting went very well.”

Analysts note that any escalation could hit China hard at a time when President Xi Jinping is already grappling with a slowing domestic economy. Trump has tied the issue to ongoing trade negotiations between Washington and Beijing, suggesting that a breakthrough could help ease tensions and potentially reduce tariffs between the world’s two largest economies.

Steel and Aluminium Tariffs Expanded

Alongside his remarks on Russia and China, Trump’s administration also unveiled an expansion of its steel and aluminium tariff regime. In a notice published in the Federal Register, the US Commerce Department said it would be extending the 50 per cent tariffs to hundreds of additional derivative products.

The Bureau of Industry and Security confirmed that 407 new product codes have been added to the Harmonized Tariff Schedule, covering items containing steel and aluminium components. These levies will apply not only to the metal content but also to other materials within those products when imported from specific targeted countries. The expanded tariffs are set to take effect on August 18, 2025.