Trump’s Economic Squeeze Faces Big Challenge: China

WASHINGTON (AP) — The Trump administration’s new “economic onslaught” on Iran’s financial connections around the world faces a challenge when it comes to China. Beijing is Iran’s biggest trading partner. While the U.S. is trying to isolate the Islamic Republic, President Donald Trump also is preparing to host Chinese leader Xi Jinping next month to maintain a fragile trade truce. Treasury Secretary Scott Bessent’s announcement this week lacked specifics about targeting China. That has raised doubts about how effective the new campaign will be when the Trump administration must balance putting maximum pressure on Iran and avoiding higher tensions with China that could be costly to the U.S. economy.