Trump lauds Beijing’s role in Iran truce, but clouds ceasefire with 50% tariff threat
Markets rise on fragile pause in fighting, as Tehran keeps Hormuz shut and warns it may abandon deal if Israeli strikes on Lebanon continue

Even as the White House lauded China’s role in securing a long-awaited ceasefire that lifted global markets, US President Donald Trump reignited trade tensions by threatening a new 50 per cent tariff on countries supplying weapons to Iran, while Tehran kept the Strait of Hormuz closed and warned it could abandon the deal if Israeli attacks on Lebanon continue.
“There were conversations that took place between top levels of our government and China’s government,” Trump’s spokeswoman Karoline Leavitt told reporters on Wednesday.
She reiterated that Trump held “great respect” for President Xi Jinping, with whom he is scheduled to meet next month in Beijing, citing the two leaders’ “great working relationship”.
