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China-Iran Trade Plummets Amid Strait of Hormuz Tensions

4/20/2026

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Summary

Story summary

Chinese customs data show March trade with Iran fell 48% on imports and 90% on exports as Hormuz restrictions tighten.
Exports to eight Gulf economies fell 57% and imports dropped 33% in March.
Iran reclosed the Strait of Hormuz after briefly reopening it, warning approaching vessels would be targeted.
U.S. President Donald Trump says Iran cannot blackmail the U.S. and indicates ongoing negotiations, which disrupt shipping and oil markets.

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Story summary

Chinese customs data show March trade with Iran fell 48% on imports and 90% on exports as Hormuz restrictions tighten.
Exports to eight Gulf economies fell 57% and imports dropped 33% in March.
Iran reclosed the Strait of Hormuz after briefly reopening it, warning approaching vessels would be targeted.
U.S. President Donald Trump says Iran cannot blackmail the U.S. and indicates ongoing negotiations, which disrupt shipping and oil markets.