"I am announcing the harshest economic action ever taken against any country. This will be economic warfare and isolation on a scale never seen before," Trump wrote on social media.
"This will be an economic D-Day," he wrote, urging all allies to side with the United States.
Iranian Foreign Minister Abbas Araghchi dismisses Trump's plan in a post on X, calling it a continuation of "failed policies" that will lead to "further defeat" for Washington.
The move comes a few days after a 60-day ceasefire agreed between Iran and the US in June expired. The idea was that a longer-term peace solution would be negotiated during it, but that has not happened.
