Trump’s economic squeeze targets Iran, Canada

descriptions off, selected

captions settings, opens captions settings dialog

captions off, selected

This is a modal window.

Beginning of dialog window. Escape will cancel and close the window.

End of dialog window.

White House Headlines - August 24, 2026

White House Headlines - August 24, 2026

Thank you for signing up!

Subscribe to more newsletters here

It’s Monday. We might technically still have about a month left of summer, but it’s feeling a bit like fall here in the D.C. area — just in time for the triumphant return tomorrow of the🧋Starbucks Pumpkin Spice Latte.

(One of your authors … *cough* Elliott *cough* … may or may not be excited about this.) 

Awaiting details on “economic D-Day” for Iran 

Awaiting details on “economic D-Day” for Iran 

Trump hits Canada with more tariffs 

Runoffs on deck in South Carolina, Georgia

Measles outbreak collides with new school year 

Programming note: Hello! We are Elliott Davis and Steff Danielle Thomas filling in for Cate. Please send your tips, comments and story ideas to edavis@thehill.com or sthomas@thehill.com. 

‘Economic D-Day’ is here: 

The Associated Press | Mark Schiefelbein

The day President Trump first teased last week has arrived: The administration is set to unveil details about its economic offensive against Iran, which Trump and his allies have referred to as “economic D-Day.” 

Treasury Secretary Scott Bessent at 1 p.m. EDT is scheduled to announce sanctions against Iran and any country, business or banking institution supporting it. Bessent in a Sunday night social media post described the to-be-announced moves as marking the “single greatest financial offensive ever marshaled against an adversary.” 

How has Tehran responded?: A top Iranian official over the weekend warned the country’s Middle East neighbors against joining the U.S.’s “economic war.” Iranian Supreme National Security Council leader Mohsen Rezaei also told state media that if Trump “wants to do something, we will retaliate in a seismic manner,” according to The Associated Press. 

In advance of the operation, Iran’s rial currency dipped to a record-low 2.02 million to the U.S. dollar early Monday morning, the AP also reported. 

Where does China come into this?: Because China is Iran’s largest trading partner and primary purchaser of its oil exports, the Trump administration’s “economic D-Day” offensive will also put Beijing in the crosshairs, The Hill’s Laura Kelly reports. 

💬 Follow today’s live blog 

US-Canada trade war escalates: 

After Canadian Prime Minister Mark Carney announced tariffs in response to the U.S.-imposed 50 percent duties that went into effect at 12:01 a.m. Saturday, Trump took........

© The Hill