Friday, August 21, 2026

US Treasury secretary warns allies: Join coalition against Iran or face consequences

Details on the Trump administration’s next steps against Iran remain scarce, with Treasury Secretary Scott Bessent promising further information at a news conference on Monday, though it is unclear whether Bessent, President Trump, or both will hold it.

The details remain very slim. What we do know is that there are a number of tools at the disposal of the White House. There could be the executive order issued in February that would allow for 25 percent tariffs on countries dealing directly or indirectly with Tehran.

There is also the possibility that Bessent could impose sanctions on entities, airports or anyone conducting business with Iran.

US Secretary of the Treasury Scott Bessent strongly encouraged US allies to join Washington’s coalition against Iran in a not-so-thinly-veiled threat.

“You’re either with us, or you are against us,” Bessent said, addressing US allies in the region.

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