US Treasury Secretary Scott Bessent told CNBC that Washington will impose the “toughest sanctions in history” to “collapse” the Iranian government, calling on other nations, including China, to join the effort.

Details on the Trump administration’s next steps against Iran remain scarce, with Treasury Secretary Scott Bessent promising further information at a press 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 per cent 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.

Bessent also pointed to what he called US success with past economic campaigns, comparisons Trump has likened to economic warfare against countries such as Cuba and Venezuela.

Asked how long the standoff with Iran could last, Bessent had no answer, implying that it could be open-ended. The only thing he was certain of was that the goal is to ensure “the economic collapse of the Iranian government.”

China has criticised the US president’s “economic D-Day” push against Iran, warning that additional sanctions will fail to resolve ongoing disputes.

Iran’s Foreign Ministry has condemned the US threat of new economic sanctions, describing the proposed measures as “illegal and inhumane”.

[Aljazeera]