‘We’ve been doing very well with China,’ Trump said.
President Donald Trump said on Jan. 13 that he believes China could open its markets to U.S. goods, pointing to his rapport with Chinese Communist Party (CCP) leader Xi Jinping.
“We’ve been doing very well with China. I have a great relationship with President Xi as you obviously know,” Trump told reporters at Joint Base Andrews. “I think it’s going to happen.”
Trump did not elaborate on when or how China might open its markets to U.S. products. Beijing has not publicly commented on Trump’s remarks.
Prior to his remarks, Trump announced on Jan. 12 that he would impose a 25 percent tariff on all countries that do business with Iran, potentially including China, one of Iran’s largest trading partners.
“Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America,” the president wrote in a Truth Social post. “This Order is final and conclusive.”
This move could lead to higher U.S. tariffs on China, whose exports already face an average tariff of 47 percent. World Bank data show that China accounts for 27.72 percent of Iran’s trade, and that Iran also purchases 26 percent of its goods from China.
Commenting on U.S. potential tariffs on Iran’s trade partners, Chinese foreign ministry spokesperson Mao Ning said on Jan. 13 that the CCP will “firmly protect its legitimate and lawful rights and interests.”
China is the biggest buyer of Iranian oil, accounting for more than 80 percent of purchases. Iran has a limited market already due to U.S. sanctions aimed at curbing Iranian nuclear development, allowing China to acquire Iranian oil at a discount. The oil is often transported to China through what the U.S. Treasury calls a “shadow fleet” of vessels flying false flags and making risky transfers to dodge penalties.
