Iranian foreign minister says Trump's 'economic D-Day' will bring 'further defeat' to US

Trump says there is no prospect of negotiations with Iran Iranian Foreign Minister Abbas Araqchi said on Thursday (20) that the US "Economic D-Day" against Iran was a distraction from American economic problems and warned that additional pressure would fail. According to Araqchi, Trump's decision will only bring "more defeat" to the United States. This Wednesday (19), US President Donald Trump announced what he called the "most crushing economic operation" ever carried out against a country, targeting Iran with economic warfare and isolation. He also threatened to punish any country that helps keep Iran's economy afloat. ? Follow g1's international news channel on WhatsApp "ANY country that allows its financial institutions, companies, airports or government bodies to provide any kind of support to Iran will also face HUGE ECONOMIC CONSEQUENCES", it published. "Oil smuggling, swap lines, money transfers, currency exchanges, ship registries, shell companies — all of this needs to stop NOW. You know who you are." ? The president did not detail how the offensive will work nor did he say how he will punish countries that collaborate with Iran. Trump also stated that he expects all allies of the United States to work to "isolate" and "defeat" the "Iranian threat". The president said that the measure was being adopted because of the lack of an agreement with Iran. The two countries began negotiating the interruption of Iran's nuclear program at the beginning of the year. The failure of the talks provoked a war. According to Trump, the "economic war" against Iran will suffocate the country. Who can be affected? US President Donald Trump during a speech on August 14, 2026 Ken Cedeno/Reuters There are doubts about the effectiveness of an economic war against Iran. The country is already the target of a series of sanctions, which make trade with other nations difficult. Furthermore, in January, Trump had already announced a 25% tariff for any country that did business with Iran. Even under sanctions, however, Iran maintains a large network of trading partners, mainly because it is an important oil producer. In 2022 alone, according to the World Bank, Iran sent products to 147 countries. Currently, China is Iran's main trading partner. In 2022, the country exported US$22 billion in products to the Chinese. Imports reached US$ 15 billion. In second place comes India. In the first ten months of 2025, trade between the two countries totaled US$1.34 billion. India's main exports to Iran include rice, fruits, vegetables, medicines and other pharmaceutical products. Iran's list of major trading partners also includes Germany, South Korea and Japan, countries that are allies of the United States. Iran is not among Brazil's 20 main trading partners, according to data from the Ministry of Development, Industry, Commerce and Services (MDIC). However, it is one of the main Brazilian destinations in the Middle East. In 2025, Brazilian companies imported US$84.5 million from the country, mainly urea, pistachios and dried grapes. Exports totaled US$2.9 billion, with emphasis on corn, soybeans and sugar. *With information from Reuters. VIDEOS: most watched on g1