US President Donald Trump said on May 12 he does not believe China’s help is necessary to end the war with Iran. "I don’t think we need any help with Iran. We’ll win it one way or the other, peacefully or otherwise," he said [1]. The conflict between the US and Iran continues more than a month after a tenuous ceasefire took effect, with no progress toward a peace agreement [1, 2].
Tehran has tightened its grip over the strategic Strait of Hormuz, a vital waterway through which roughly one-fifth of the world’s oil supply passes. Iran has made new oil shipment deals with Iraq and Pakistan. Other countries are considering similar agreements as Iran works to normalize its control of the strait [1, 2, 3]. Brent crude oil futures climbed above $107 per barrel amid the largely closed shipping lane [4, 5]. The Iran war has cost the US an estimated $29 billion and contributed to surging oil prices [1, 2].
The US and China agreed in April that no country should be allowed to charge tolls on traffic passing through the Strait of Hormuz, signaling a rare area of consensus ahead of President Trump’s summit with Chinese President Xi Jinping in Beijing. China remains a major buyer of Iranian oil and maintains ties with Tehran but has not publicly challenged the US characterization of the maritime toll agreement [1, 2, 3, 4, 5, 6].
The US demands Iran end its nuclear program and relinquish control over the strait. Iran’s counter-demands include compensation for war damage, lifting the US blockade, and ending hostilities on all fronts, including Lebanon. Trump dismissed these counter-demands as "garbage" on May 11 or 12 [1, 2, 3, 4, 5].
Trump met Xi Jinping on May 14-15 in Beijing to discuss the Iran war and potential sanctions relief for Chinese companies importing Iranian oil. The US Treasury sanctioned Hengli Petrochemical, a major Chinese independent refinery, in April for purchasing Iranian oil [7, 8]. Trump said on May 15 he would "make a decision over the next few days" on lifting sanctions on Chinese oil firms buying Iranian crude [7, 8]. Traders predict Trump will announce major US-China trade deals during the summit, including Boeing aircraft purchases and tariff extensions [9].
Trump’s meeting with Xi marks a critical moment as Washington seeks to pressure Beijing to discourage Iran from rejecting US conditions to end the war. The summit continues through May 15.
