Treasury Secretary Scott Bessent’s new campaign against Iran is being tested by China, which is Iran’s biggest trading partner and leading oil buyer, as the Trump administration also prepares for a summit with Xi Jinping next month. Analysts say Washington is trying to pressure Iran without provoking a major confrontation with Beijing. China has said its cooperation with Iran is within international law and that China-Iran ties should not be disrupted.
U.S. President Donald Trump, left, and Chinese President Xi Jinping arrive a state dinner at the Great Hall of the People, May 14, in Beijing. AP-Yonhap
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.
Absent from Bessent's remarks this week were specifics about how the Trump administration would target China, casting doubts on how effective the new campaign would be when the U.S. must balance putting maximum pressure on Iran and avoiding higher tensions with China that could be costly to the American economy.
