What Bessent’s economic isolation of Iran could look like

While the Trump administration hasn't said what it's planning to do, there are still pressure points that the U.S. Treasury Department could hit.

"Now traders are watching the 'yen carry trade,' where cheap yen borrowing funds bets on higher-yielding assets worldwide, and wondering if it’s about to blow up."

Treasury Secretary Scott Bessent says the US is getting ready to squeeze Iran with unprecedented economic pressure, a claim critics greeted with skepticism given the country is already subject to a naval blockade and thousands of sanctions.

Treasury Secretary Scott Bessent said on Thursday the U.S. would ramp up economic pressure against Iran next week as the Trump administration eyes options for winning the war that has stretched on for nearly six months. Bessent did not offer details, but suggested a new wave of actions against Iran could be coming, mar

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Republicans fear Trump and the war, which has caused gasoline prices to soar, will cost them their control of Congress.

Washington described a two-pronged approach featuring financial pressure and a physical blockade of the ports.