Donald Trump says "economic warfare and isolation on an unprecedented scale" over Iran sanctions

President Trump announced a new campaign of economic penalties against Iran, warning that countries that continue to trade with Tehran will face serious consequences. In a social media post, he said Iran had passed up chances to reach a deal and would now be subjected to extreme financial pressure and isolation. Iran’s foreign minister dismissed the announcement as an attempt to distract from America’s debt, which has reportedly exceeded $40 trillion, adding that further sanctions will cause more defeats for Washington and endanger the global economy. Another Iranian official said the economic effort is doomed, just as the military war launched with Israel in late February has failed, according to Tehran. The move follows years of U.S. restrictions on Iran’s oil, shipping and financial sectors.