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The Economic Times

National

Trump's new economic squeeze on Iran has a big challenge: China

China Xi Jinping Iran Donald Trump United States Sun Yun Beijing Oil Scott Bessent Lin Jian

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 leader Xi Jinping next month to maintain a fragile trade truce.

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