Trump threatens Chinese bank sanctions ahead of Xi Washington visit
What's new: US and Chinese officials met in Beijing to prepare Xi Jinping's trip even as Washington pressures Beijing over Iran oil.
President Donald Trump raised the prospect of sanctioning Chinese banks as US and Chinese officials prepared for Xi Jinping's upcoming visit to Washington, underscoring a mix of pressure and diplomacy in the relationship. Trump told reporters he could target Chinese banks after Treasury Secretary Scott Bessent warned this week that lenders tied to turning Iranian oil into money would be “targeted.” On Wednesday, US Ambassador David Perdue met Foreign Minister Wang Yi and other Chinese officials in Beijing to discuss Xi's trip, which Trump said could come within weeks. Beijing's response to the Iran-related pressure has been restrained, saying only that it would take necessary steps to protect its interests.