Trump declares economic warfare on Iran. And, SCOTUS to rule on White House ballroom

Economic Warfare On Iran, White House Ballroom, Bond Market Warning Signs Good morning. You're reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. Today's top stories The Trump administration is threatening more economic pressure on Iran to push it back into negotiations over the Strait of Hormuz. President Trump is calling the campaign an "economic D-Day." Treasury Secretary Scott Bessent said he will outline the new measures Monday. President Trump during an event announcing the expansion of a foster care initiative in the Rose Garden of the White House on Aug. 20, 2026, in Washington, D.C. Finn Gomez/Getty Images hide caption toggle caption Finn Gomez/Getty Images 🎧 The U.S. has already imposed extensive sanctions limiting international trade with Western countries, NPR's Emily Feng tells Up First. Iran's economy was struggling before the war, but Sina Toossi of the Center for International Policy says the Iranian government is willing to endure hardship to survive. Iran wants sanctions relief and the unfreezing of tens of billions of dollars in assets held abroad. More...