WASHINGTON, July 25 (Reuters) - U.S. President Donald Trump is unlikely to follow through on his threat to place 100% tariffs on countries that buy Russian oil because it would worsen politically-damaging inflation pressures and his similar threat against buyers of Venezuelan oil has had limited success, especially in China.

The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.

Donald Trump’s new Asia tariff strategy is leaving exporters in Vietnam, Indonesia, and the Philippines trying to make sense of what exactly counts as Chinese.

With inflation creeping back into the US economy, it's as important as ever to have a firm grasp on Donald Trump's tariffs and what they mean.

China’s budget deficit climbed to a fresh record in the first half, highlighting intensified government efforts to shore up domestic demand as Donald Trump’s tariffs reduce exports to the US.

The hope, and the expectation, is that when U.S. officials meet their Chinese counterparts in Stockholm to talk economics and trade next week, they will build on a recent lessening of tensions as the U.S. tries to set up a fall meeting between the countries’ leaders and lay the groundwork for another loosely defined trade pact.

Donald Trump's trade deals give Asian exporters tariff clarity. However, details on avoiding tariffs targeting China's supply chains are awaited. The US may impose tariffs on goods trans-shipped through Southeast Asia.

The White House is putting a priority on doing business with Beijing as it prepares for bilateral talks next week.