Xi Is Poised to Press Trump on Arms Sales to Taiwan

For as easily manipulated as Trump is, he is equally erratic and untrustworthy.  China is not immune to the impacts of closure of the Strait of Hormuz or the impact on global oil and gas supply. Taking Taiwan would certainly be a big strategic win for China but to think they'd be okay with Trump "taking" Iran seems utterly insane. In terms of protecting and advancing their own interests whilst also managing Trump, I would expect behind the scenes pressuring Tehran to take a deal, whilst also encouraging Trump to take a deal China and Iran can both live with, possibly offering to host a summit, let Trump get the victory lap, put their weight behind a plan publicly, so Trump can paint it as an improvement over the JCPOA. Stroke his ego enough that he'll take a negotiated peace on terms similar if not worse than what he withdrew from in his first term, but with the PR bullshit of "great respect from Xi", top it off with a dig at the European JCPOA partners as irrelevant, small players compared to US and China. Add some favourable deal for his sons or Jared or some related business on the side. There's no world where they want Trump-installed people in charge of the Strait.

Came here to say exactly that. 

China isn't in any position to "let" the US do anything. The US can take Iran whether China wants it or not, and it can also protect Taiwan, whether China likes it or not.

"If we hit that bullseye, the rest of the dominos will fall like a house of cards. Checkmate."