American Götterdämmerung by Joseph E. Stiglitz
US President Donald Trump and his Treasury secretary’s latest desperate threats confirm how much American power has waned on their watch. Far from compelling others to join their efforts to isolate Iran, they are hastening the transition to a post-American world order.
NEW YORK—In what US Treasury Secretary Scott Bessent has heralded as an Economic D-Day, the United States is threatening to tighten the noose around Iran with sanctions on countries that continue to trade with it. But far from compelling others to join its efforts to isolate the Islamic Republic, the Trump administration’s mounting blunders are hastening the transition to a post-American world order.
