Bilateral trade between China and Russia reached $19.14 billion in July, an increase of 8.7% compared to the previous month, despite US threats of secondary taxes.

Trade relations between China and Russia continue to show strong resilience as bilateral trade reached a peak in July at $19.14 billion, according to the latest figures from the General Administration of Customs of China. This figure reflects an 8.7% increase compared to June, indicating that these two large economies are maintaining cooperative momentum despite increasing geopolitical pressures.

Although there was month-on-month growth, the figures for July still decreased by 2.8% compared to the same period in 2024, indicating some impact from the global economic environment. However, the overall trend still shows a strong economic relationship between the two countries, especially in the context of the Ukraine conflict, which has driven deeper economic ties.

At the center of this trade relationship is China's import of crude oil from Russia. In 2024, Russia supplied 108.5 million tons of crude oil to China, accounting for 19.6% of the country's total oil imports. Although this volume decreased by 10.9% in the first six months of the year, Russia still maintains its position as a key oil supplier, with 49.11 million tons delivered in 2025.

Despite pressure from Washington

It is notable that this trade maintains a strong level despite international sanctions and recent threats from the US administration regarding the imposition of secondary taxes on countries continuing to buy Russian oil. This resilience may reflect two factors: China’s expectation of a diplomatic solution to the Ukraine conflict in the near future, or they are betting on the possibility that President Trump will not follow through on the threat to impose an additional 25% tax on Chinese goods.

However, the threats from Washington are not mere rhetoric. The Trump administration has taken similar measures against India for continuing to purchase Russian oil. This shows that the US is willing to use economic tools to pressure Russia's trading partners.

In the context of the current trade ban deadline ending on August 12, US Treasury Secretary Scott Bessent has signaled the possibility of extending the agreement, while noting that trade relations are in a 'very good position with China.' President Trump also mentioned that both sides have 'partially' reached a trade agreement.

However, the possibility of implementing secondary tax measures and their complexities could pose significant obstacles to finalizing the trade agreements currently under discussion. This raises questions about the ability to balance geopolitical objectives and economic interests in the US-China-Russia triangle in the coming period.