The U.S. is using the dollar system to force China to pick a side, and the U.S.-China tariff truce is back on the table. U.S. Treasury Secretary Besant just announced the launch of an 'economic exile operation' against Iran. The U.S. Treasury will focus on targeting Iran’s oil exports, shipping, currency exchange, gold, digital assets, aviation, and third-country financial channels, enforcing what they call 'zero-leakage sanctions.' Besant bluntly stated: 'Any entity involved in laundering money for Iran will be removed from the dollar system. The countdown has begun.' China is naturally caught in the middle. China remains one of Iran’s most important oil buyers. A Reuters reporter directly asked Besant on-site: The U.S.’s strongest tool is sanctioning banks that help Iran complete transactions, and Chinese banks have long been considered potential targets. Given the fragile trade and tariff truce between the U.S. and China, would the U.S. hesitate to go after Chinese banks to avoid disrupting negotiations? Besant didn’t shy away from the question. He responded: 'No one is above U.S. sanctions.' Any financial institution that helps Iran complete transactions or participates in the system that turns Iranian oil into funds will become a target of the U.S. Later, Yahoo Finance pressed further, asking what penalties the U.S. would impose if Chinese banks and shipping companies don’t cooperate. Besant reiterated: 'Every country, every entity must be prepared to face U.S. sanctions. No one can stay out of this.' So now there’s a very troublesome new variable in U.S.-China relations. On one hand, Trump is still dealing with tariffs and trade issues with China, while on the other, he’s demanding the world cut off economic ties with Iran. And China happens to be Iran’s largest oil buyer. If China continues to purchase Iranian oil, will the U.S. dare to impose secondary sanctions on major Chinese banks? This will directly test whether Trump prioritizes zero-leakage sanctions on Iran or maintaining the current tariff and trade truce with China. Besant also explained today why the U.S. hasn’t immediately imposed all secondary sanctions: 'Why would I blow up the global financial system?' The U.S. will first give countries a period to make adjustments, but this window won’t be long. If they don’t comply with Washington’s demands, the U.S. will impose secondary sanctions, potentially kicking related institutions out of the dollar system. If major Chinese banks are ultimately targeted, the Iran issue will become directly intertwined with U.S.-China tariffs, trade negotiations, dollar clearing, and the cross-border financial system. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one platform.