Trump's trade truce with China faces test with Iran effort
WASHINGTON — The “ economic onslaught ” that Treasury Secretary Scott Bessent has declared on Iran's financial connections around the world may have one major caveat: China. Beijing is Iran's biggest trading partner and its leading oil buyer. While the U.S. is trying to isolate the Islamic Republic from its remaining economic partners, President Donald Trump also is preparing to host Chinese…
The economic pressure campaign against Iran by the Trump administration could face a significant challenge due to China's influential role in the country's economy. Beijing is Iran's largest trading partner and largest importer of oil. While the U.S. seeks to isolate Iran from its remaining economic allies, President Donald Trump is set to meet with Chinese President Xi Jinping next month to sustain a delicate trade truce.
However, the Treasury Secretary's recent announcement did not provide detailed plans on how the administration would target China, raising questions about the effectiveness of the new campaign in balancing pressure on Iran and avoiding increased tensions with China that could harm the American economy. Edgard Kagan, a senior adviser at the Center for Strategic and International Studies, noted that the announcement was cautious in its approach, avoiding specifics against China to prevent potential disruptions to the summit. For Chinese President Xi, a state visit to Washington is crucial.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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