Chinese President Xi Jinping (right, front) shakes hands with Iranian President Hassan Rouhani in Tehran, Iran, Jan 23, 2016. [Photo by Wang Ye/Xinhua] The Trump administration’s actions over the past few weeks have eliminated two of China’s primary sources of cheap oil, Venezuela and Iran. The administration has also effectively cut off oil to China’s friend, Cuba. The Trump administration began pressuring Panama in 2025 to reduce Chinese influence around the canal, and in early 2026 Panama’s Supreme Court ruled that the concession held by a Hong Kong company to operate ports at either end of the Panama Canal was unconstitutional, leading the government to take control of the facilities. With these moves, the administration has dealt more economic damage to China than any previous…
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