Trump threatens massive new China sanctions over Iranian oil

President Trump on Thursday effectively threatened new and massive sanctions against China over purchases of Iranian oil.Why it matters: It's the opposite of the trade war de-escalation the administration has said is necessary.What they're saying: "ALERT: All purchases of Iranian Oil, or Petrochemical products, must stop, NOW! Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions," Trump posted to Truth Social."They will not be allowed to do business with the United States of America in any way, shape, or form."It was not clear how such sanctions would be implemented, or when; administration spokespeople were not immediately available to comment.Between the lines: While Trump did not name China in his post, the State Department has said that China is "by far" the largest importer of Iranian oil.This is a developing story.

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