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NewsWPLG Local 10 – PoliticsAugust 24, 2026Miami-Dade

Trump administration prepares new secondary sanctions on Iran and threatens tariffs on Canadian goods

The U.S. Treasury Department is developing new secondary sanctions to cut off Iran's revenue sources, while President Trump has threatened a 50% tariff on Canadian automobiles and steel. These actions follow the collapse of trade talks with Canada and a broader U.S. effort to isolate Iran from the global financial system.

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Why It Matters

These measures could significantly alter international trade costs for Canadian goods and restrict global financial access for countries or companies currently doing business with Iran.

Key Facts

  • The U.S. Treasury is preparing secondary sanctions to block all revenue sources for Iran.
  • President Trump threatened a 50% tariff on Canadian automobiles, car parts, and steel starting next year.
  • The UAE suspended all trade and financial transactions with Iran last week.
  • Iran's currency dropped to a record low of 2.02 million to the U.S. dollar.
  • An independent arbitrator ordered The Washington Post to reinstate journalist Karen Attiah with back pay.
  • Six deportees who refused to exit a flight in Liberia were diverted to Equatorial Guinea.
  • The U.S. has deported thousands of people to countries other than their own under secret agreements.

Who's Mentioned

personScott Bessent“U.S. Treasury Secretary”personSusan Collins“U.S. Senator from Maine”personJD Vance“Vice President of the United States”organizationThe Washington Post“Media organization”personCharlie Kirk“Conservative podcaster”personMohammad Bagher Qalibaf“Iran's parliament speaker”personKaren Attiah“Journalist”personDonald Trump“President of the United States”