Treasury Secretary Scott Bessent said Monday that new U.S. secondary sanctions in the pipeline aim to block all potential sources of revenue for Iran, telling nations to cut economic ties to Tehran or face U.S. retaliation. Tehran has withstood nearly five decades of punishing American sanctions. Ahead of the announcement, Iran’s currency hit a record low, dropping to 2.02 million to the U.S. dollar as trading opened on currency markets.
President Donald Trump threatened on Monday to impose a 50% tariff on Canadian automobiles, car parts and steel starting next year as the trade rift with Ottawa continued to deepen. The announcement comes after trade talks between the otherwise reliable trading partners collapsed last week. Long-planned U.S. tariffs on various Canadian goods went into effect after the talks broke off, and Canada has vowed to retaliate.
US set for largest mass visa revocation in history targeting up to 200,000 foreigners, officials say The Trump administration is preparing to revoke the business and tourism visas of up to 200,000 foreigners who have applied for or are currently seeking asylum status in the United States. If it happens, the move would be the largest single mass revocation of visas in U.S. history and would likely face legal challenges. Unless challenged or revised, the State Department is expected to announce in the coming weeks the revocation of so-called B1 and B2 visas issued between 2016 and 2026 whose holders have sought asylum or are now seeking asylum, according to State Department documents obtained by The and two U.S. officials.
The action will be taken in coordination with the Department of Homeland Security. Hegseth won’t rule out a return to striking Iran Defense Secretary Pete Hegseth says he is not ruling out resuming strikes to hit Iran amid a lull in hostilities. It comes as the Treasury Department has announced a new round of sanctions aimed at Iran and warned nations that do business with the Islamic Republic to sever those financial ties or face retaliation from the United States.
Hegseth said that “if Iran is foolish enough to overplay their hand or mess with the American military, we’ll do what we need to do” but he added that “economic pressure we know hurts them the most right now.” Pentagon won’t cut money for weapons if Congress shrinks military budget, Hegseth says Defense Secretary Pete Hegseth says the Pentagon will proceed with efforts to significantly boost production of advanced weapons, even if it Congress fails to approve President Donald Trump’s proposed $1.5 trillion budget. Hegseth said the Pentagon has already inked multi-year deals with various contractors, with many scaling up manufacturing capacity. But Hegseth pushed back, repeating the Pentagon’s stance that the U.S. military has plenty of munitions.
Treasury sanctions nearly 60 Iran-linked entities worldwide on nuclear, missile, cyber and oil networks The Treasury announced sanctions Monday against nearly 60 Iran-linked entities over their roles in Iran’s nuclear and missile programs, malign cyber activities and oil shipments. It is part of the administration’s economic campaign against Iran, including warnings to other countries not to do business with Iran in sectors such as shipping, technology and aviation. The Treasury sanctioned Hong Kong-based Sweet Ocean Industrial Limited and its associated personnel and businesses, accusing them of helping Iran acquire sensitive goods such as laser optics equipment.
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