Trump Hits Iran With Toughest-Ever Economic Measures, 17 Days After Scrapping Military Strike

President Trump on August 20, 2026, announced what he called the "most crushing economic operation ever taken against any country" against Iran, warning of "tremendous economic consequences" for nations doing business with Tehran. The move came 17 days after Trump cancelled a planned military strike to pursue a nuclear deal. Whether that diplomatic track survives remains unclear.