Treasury Secretary Scott Bessent plans to reveal on Monday “exactly what we’re going to do” to ratchet up economic pressure on Iran, he told CNBC Thursday morning.
“If you insist on doing business with them — either transferring money, buying their oil, or doing seaborne ship transfers — then the US Treasury … will put its full might and force toward enforcing against you,” Bessent said.
He suggested that the administration’s new efforts could affect China, saying that “it would do them a big service to get with the program.”
Bessent also teased a separate announcement on “an increased focus on fiscal consolidation,” which he said he’d make alongside White House budget chief Russ Vought in coming days.
He also reiterated that forthcoming government bond buybacks could top $4 billion, adding that “we’ll see what the conditions are and … analyze them then.”