Trump ratchets up rhetoric against Beijing as U.S.-China officials meet for Xi's Washington visit
U.S. and Chinese officials met in Beijing this week, despite the White House's tough talk on China.
TL;DR
- U.S. President Donald Trump signaled potential sanctions on Chinese banks amid secondary Iran sanctions.
- U.S. Ambassador to China David Perdue met with Chinese Foreign Minister Wang Yi to discuss President Xi Jinping's state visit.
- Treasury Secretary Scott Bessent warned that Chinese banks involved in processing Iranian oil money would be targeted.
- Experts suggest the U.S. rhetoric is largely performative and major Chinese financial institutions may not be targeted.
- China has responded to U.S. sanctions by stating it will take necessary measures to protect itself, but has provided few details.
- The U.S.-China trade truce is expected to remain intact due to the negative consequences of its termination for both sides.