The Globe and Mail reports in its Tuesday, Aug. 25, edition that Treasury Secretary Scott Bessent announced new sanctions against Iran and warned countries doing business with it to cut ties or face retaliation. An Associated Press dispatch to The Globe reports that President Donald Trump's recent pledge for an "economic D-Day" against Tehran was a warning to isolate Iran from the global economy. Asked about the absence of secondary sanctions on Iran's trading partners, Mr. Bessent said he wanted to give countries a chance to move away from Iran before it's too late. "Why would I want to blow up the global financial system?" The Trump administration is seeking an off-ramp in an unpopular six-month war with a stubborn Iran. Diminishing weapons stockpiles have led U.S. officials to focus on economic warfare. But the announcement Monday provided scant details and did not name which countries could face secondary sanctions. China, Turkey and the United Arab Emirates are Iran's largest trade partners. The UAE last week said it was suspending all trade with Iran. Iranian parliamentary Speaker Mohammad Bagher Qalibaf said the U.S. is not in an economic position to further restrict Tehran s relations with other countries.