Trump vows 'economic D-Day' against Iran as war nears six-month mark

As the conflict with Iran approaches its six-month milestone, the Trump administration is shifting its focus from the battlefield to the bank, vowing an intensified financial assault on Tehran. President Donald Trump this week announced plans for an "unprecedented" campaign of economic warfare and isolation, aimed at compelling Iranian leadership to abandon its nuclear program and fully reopen the strategic Strait of Hormuz to oil and gas shipments.

The promise of an "economic D-Day" comes at a precarious moment for the administration, which is reportedly facing diminishing stockpiles of key weapons. The move also reflects the political pressure on the president, who is grappling with an increasingly unpopular war just months before pivotal midterm elections that will determine control of Congress.

While details of the new sanctions remain sparse, the announcement signals a renewed determination to use financial leverage against a nation that has already endured nearly five decades of punishing American restrictions. The strategy appears designed to force a capitulation that military action has not yet achieved.

In a separate development, the president used a social media post on Friday to announce a temporary measure allowing up to 300,000 metric tons of ground beef to be imported into the U.S. over the next 90 days without triggering higher "out of quota" tariffs. Trump stated the beef would be sold at 25% below current market rates, a move he said would lower costs for American consumers and help rebuild the domestic herd. The White House did not immediately identify the trading partners involved. The American cattle industry has previously resisted such import expansions.

Meanwhile, the president is scheduled to travel to South Carolina on Friday to campaign for Sen. Darline Graham ahead of a Republican runoff. The rally underscores the importance Trump places on securing the nomination for his preferred candidate in a state that has been a stronghold for his party.

In other news, Justice Department investigators have reportedly sought voluntary interviews with law enforcement officials connected to the 2022 FBI search of Trump's Mar-a-Lago estate. The requests, made in recent weeks, suggest a Florida-based inquiry is examining the search as part of a broader conspiracy investigation, potentially providing a legal anchor for prosecution in that state.

Global markets showed mixed results on Friday following a retreat on Wall Street. A U.S. Treasury plan to double its purchases of longer-term government debt provided only limited relief, as concerns over inflation fueled by the Iran war and rising government debt continue to keep bond yields elevated.