President Trump is dialing up the rhetoric against Iran, though he seems to be signaling he doesn't want to fire another shot. After weeks of airstrikes earlier this year and repeated threats to resume them, Trump is now touting an "economic D-Day" and "economic warfare and isolation on an unprecedented scale" aimed at Tehran, reports the New York Times. Treasury Secretary Scott Bessent on Thursday tried to calm nervous markets, saying "maximum economic pressure" means that a return to "large-scale" fighting is unlikely, at least "for now."
That mix—an aversion to renewed war, an already battered Iranian economy, and a US public souring on the conflict and high gas prices—leaves Washington with shrinking leverage and a wary adversary. Iran has absorbed months of bombing and struck back at oil shipping and US bases, while a durable peace deal appears to remain out of reach. The International Crisis Group's Ali Vaez notes to the AP: "I think [Trump's] blind spot is the fact that the only thing that the Iranian regime views as more dangerous than suffering from US sanctions is surrendering to US terms."
Indeed, Iranian Foreign Minister Abbas Araghchi didn't seem fazed by such warnings on Thursday, calling Trump's threats a "diversion from America's own crisis: unprecedented debt and surging interest costs," reports Time. As one former US negotiator for the Middle East puts it, the administration appears focused on its next move, not the endgame, noting, "They're playing checkers. They're not playing chess," per the Times. Further tightening the screws likely runs through China, Iran's key oil customer, with Trump courting Beijing ahead of a September summit. The BBC has more on how sanctions could land in Iran.
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