Asked if Chinese banks that do business with Iran would be sanctioned, Bessent replied that “no one is above the reach of US sanctions.”
While Bessent did not say which countries would likely be targeted, China, Türkiye, and the United Arab Emirates are Iran’s biggest trading partners.
The secretary was also asked why sanctions aren’t being imposed immediately.
“Well, we are giving everyone the opportunity to remedy bad behavior,” he replied. “Why would I want to blow up the global financial system?”
Hm an unintended consequence coming?
Bessent added. “So we believe that a warning shot and a level set of expectations is appropriate, and if people do not want to meet our expectations, then we expect – and they should expect – that they will leave the dollar system.”
Trump has dismissed Americans’ concerns about high fuel prices, saying $4 is “not very high” and vowing to “never apologize” for the economic pain his actions are inflicting.
That pain doesn’t stop at the pump. More expensive gasoline and diesel ripple through the economy, raising the cost of transporting food and other goods while keeping inflation elevated.
Well we see how this fall elections turn out. The American people may have a different opinion.