How the new U.S. sanctions on Iran could affect China

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Treasury Secretary Scott Bessent announced new sanctions against Iran and said President Trump is imploring world leaders to join in on the "economic asphyxiation" of Tehran. Bessent said there would be no exemptions to the sanctions, which could indirectly affect China. Also, Bessent said President Trump would like Canada to return to trade talks in good faith. NBC News' Christine Romans and Monica Alba report. Aug. 24, 2026

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