James King

A quick caveat on that, very necessary caveat, is that although China is the country that loses most in terms of the total volume of oil imports,

through the Straits of Hormuz, this amount only amounts to about 6% of China's total energy usage.

So, you know, although China gets hit hard, it is a weatherable storm for China.

I think the area that is most pressing right now is the one that you've already alluded to, and that is China and its military relationship with Iran.

Because

President Trump said last week that the US would impose tariffs of 50% with no exemptions on imports to the US from any country that supplies Iran with military weapons.

And we're already seeing the US Defense Intelligence Agency saying that the Iran Revolutionary Guard Corps

is using technology from a Chinese firm called Mizar Vision that's been feeding AI-enhanced satellite imagery of US operations in Iran to the Iranians.

And so, you know, this is kind of a gray area.

It's not exactly weaponry.

But it does seem to be assistance that China is providing Iran in its conflict with the U.S.

So that's point number one.

Point number two is that CNN had a report last week quoting again U.S.

intelligence to say that China's preparing to deliver new air defense systems to Iran within the next few weeks.

Of course, this hasn't happened yet.

We don't know whether it will happen.

But if that was to happen, then it seems very clear that China will be back in the U.S.

crosshairs.

There could be, you know, a big trade sanction follow through.

China's foreign ministry spokesman Guo Jiakun has made a statement related to this situation in Beijing.