The Globe and Mail reports in its Tuesday edition that U.S. Treasury Secretary Scott Bessent announced a new round of sanctions aimed at Iran on Monday and warned every country that does business with the Islamic Republic to sever those financial ties or face retaliation. An Associated Press dispatch to The Globe says President Donald Trump's pledge last week to unleash an "economic D-Day" against Tehran turned out to be a new warning to cut off Iran from the rest of the global economy. Asked why the U.S. was not imposing secondary sanctions on Iran's trading partners, Mr. Bessent told reporters he wanted countries to have an opportunity to shift away from Iran before it was too late. "Why would I want to blow up the global financial system?" he added. The Trump administration is struggling to find an off-ramp nearly six months into an unpopular war with an increasingly obstinate Iran. Diminishing stockpiles of key weapons appear to have forced U.S. officials to pivot to economic warfare. The announcement Monday provided little detail and did not name which countries could face secondary sanctions. China, Turkey and the United Arab Emirates are Iran's largest trade partners. "They know who they are," Mr. Bessent said.