U.S. President Donald Trump signaled that sanctions on Chinese banks could be forthcoming over alleged links to Iranian oil revenues, without offering specifics, even as Washington and Beijing advanced preparations for Chinese President Xi Jinping's state visit. The remarks followed Treasury Secretary Scott Bessent's warning that Chinese banks forming part of the ecosystem that turns Iranian oil into money would be targeted under Trump's "economic D-Day" campaign against Iran. U.S. Ambassador to China David Perdue met Foreign Minister Wang Yi and three other senior Chinese officials in Beijing to discuss the visit, which Trump said would come in a few weeks. Chinese stocks still edged higher, with the Shanghai Composite up 0.1% to 3,960 and the Shenzhen Component up 0.5% to 14,122, despite reports that Washington is preparing a 7.5% tariff on Chinese goods over industrial overcapacity. Beijing's response remained restrained, saying it would take all necessary measures to protect its interests. Analysts described the sanctions rhetoric as more warning than concrete plan and largely performative, expecting the U.S.-China trade truce to hold. Next week, Bessent is expected to press G20 finance ministers meeting in Asheville, North Carolina, on Iran sanctions compliance.