by Michael Snyder, The Economic Collapse Blog:
The president of the United States just threatened to end all trade with China if the Chinese do not stop buying oil from Iran. I realize that this sounds like something that Hollywood would dream up, but this isn’t a plot from an episode of your favorite television show. This is really happening. President Trump has decided to raise the level of economic pressure on Iran to the maximum in a last ditch effort to force the Iranians to make a deal to end their nuclear program. The oil industry is the central pillar of the Iranian economy, and President Trump wants to make it impossible for them to export any oil at all. So he is threatening to completely cut off all trade with any nation that purchases any amount of Iranian oil.
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This is what a trade war looks like when it goes nuclear.
President Trump is pledging that any nation that buys Iranian oil “will not be allowed to do business with the United States of America in any way, shape, or form”. He didn’t mention China specifically when he wrote this, but Trump knows that China buys far more oil from Iran than anyone else.
For some reason, the mainstream media is mostly ignoring this story. But State Department spokeswoman Tammy Bruce has confirmed that this is now U.S. policy and that China in particular is being targeted…
“These sanctions are being imposed pursuant to President Trump’s maximum pressure campaign to drive Iran’s oil exports, including to China, to zero. China is by far the largest importer of Iranian oil. The Iranian regime uses the revenue it generates from these sales to finance attacks on U.S. allies, support terrorism around the world, and pursue other destabilizing actions,” State Department spokeswoman Tammy Bruce said.
This is it.
We really have reached a moment of truth.
In 2025, approximately 90 percent of all Iranian oil exports have been purchased by China…
Shipping data from cargo tracking company Vortexa shows that 90 percent of Iranian oil exports are purchased by China, and Iranian oil exports to China hit a record high of 1.8 million barrels per day in March, Reuters reported, citing ship tracking data.
China isn’t going to stop buying oil from Iran.
I hope that I am wrong about that, but I do not believe that I am.
And I do not believe that Trump is bluffing either.
So it appears that we are about to see a full shutdown of all trade with China.
Most Americans have absolutely no idea what that will mean for us.
It is being reported that “90% of the inputs in prescription drugs consumed in the US are imported”, and a “significant portion” of those inputs are produced by the Chinese…
“Estimates show that 90% of the inputs in prescription drugs consumed in the US are imported,” said Torsten Sløk, chief economist at Apollo. A significant portion of that comes from China, making it a major supply chain risk.
Ongoing tariff disputes between Washington and Beijing have investors on edge, especially in healthcare and pharmaceuticals, where any price shock could ripple across the industry and impact both investors and patients.
This is a really big deal, because as I have discussed previously, more than 60 percent of all U.S. adults are currently taking at least one pharmaceutical drug.
According to supply chain analytics company Exiger, about 80 percent of the active ingredients in our pharmaceutical drugs come from China…
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Originally Posted at https://www.sgtreport.com