‘Get with the program’: Bessent sends blunt message to China over Trump’s Iran campaign

WASHINGTON, DC: Treasury Secretary Scott Bessent, in an interview with CNBC, issued a blunt message to China, warning it to fall in line with Trump’s new war strategy against Iran.

On Wednesday, August 19, President Donald Trump announced a ‘most crushing economic operation’ and ‘economic warfare’ against Iran.

China is asked to ‘get with program’ as US updates its Iran strategy

Treasury Secretary Scott Bessent underlined that Washington wants rivals to join the ramped-up campaign on Iran.

"This is going to be the greatest coordinated economic isolation in the history of the world. And we are going to them and saying you are either with us or against us," he added in a message to allies.

Asked whether the United States would pressure China, Bessent said "many conversations are best to have in private," but called on Beijing to "get with the program."

Chinese President Xi Jinping is due to visit the White House on Sept 24 when the topic of Iran is sure to come up, as it did when Mr Trump traveled to Beijing for a summit in May.

Economic pressure makes large-scale war less likely

Bessent said the new US policy of "maximum economic pressure" on Iran makes a ‘large-scale’ war less likely. He added that global markets misread Trump’s new strategy against Iran, leading to price rises for several weeks.

As the price of a barrel of Brent crude, the global benchmark, hovered around a three-week high of $93 on Thursday, Bessent said, "I ‌think oil markets are misinterpreting what this economic pressure means."

"We have asymmetric information, and I'm not sure why oil has popped up on this," he said. "If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart."

Bessent warns allies to choose between Washington and Tehran

Treasury Secretary Scott Bessent warned US allies that they must choose between Washington and Tehran as the Trump administration prepares tougher Iran sanctions.

Bessent previewed the administration's sanctions plan by telling US allies, "You are either with us or against us," as Washington prepares what he described as unprecedented economic pressure on Iran.

"If you insist on doing business with [Iran], either transferring money, buying their oil, or doing seaborne ship transfers, then the US Treasury and the US government... will put its full might and force toward enforcing against you," Bessent said.

He said the United States would seek "the greatest coordinated economic isolation in the history of the world" against Iran and announced plans to hold a press conference on Monday to explain the measures.