Two weeks ago, Donald Trump raised eyebrows around the world with a bold threat published his social media platform. “I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!” the president wrote, referring to the war with Iran. “This will be Economic Warfare and Isolation on an unprecedented scale.”
In the same online statement, the Republican said he would impose “TREMENDOUS Economic Consequences” on “ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran.” He added, “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are. This will be an ECONOMIC D-DAY.”
It quickly became obvious the president’s threat was largely meaningless, and the administration’s new policy amounted to little more than another underwhelming threat from Treasury Secretary Scott Bessent a week later.
The administration’s efforts, however, are ongoing. As part of this week’s controversial summit for finance ministers and central bankers from G20 nations, Bessent issued a new declaration on Tuesday morning about his message to international attendees.
“We are telling people, either you are with us or against us,” the treasury secretary said, echoing a post-9/11 line from the Bush-Cheney administration.
In the abstract, the White House seems to be under the impression that the United States, as the preeminent global superpower, can simply bark orders, issue a few threats and isolate Iran. In reality, however, Team Trump’s efforts have elicited little more than yawns.
Bloomberg reported, “By the week’s end, countries with ties to Tehran had so far shrugged off the threat and analysts were left underwhelmed by the U.S. actions.”
That was soon followed by a New York Times report noting that Iran had joined a handful of other countries, including China, Russia and India, for a meeting of the 10-nation political and security group known as the Shanghai Cooperation Organization, which Beijing dominates.
The message to the White House wasn’t exactly subtle: Trump and his team demanded other countries further isolate Iran, at which point much of the world turned to the Republican administration and said, simply, “No.”
This post updates our related earlier coverage.
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