History of no follow-through softens impact of US sanctions threat: Justin Wolfers | ABC NEWS

The US has issued a strong threat to expand secondary sanctions on countries that cooperate with Iran.
Treasury Secretary Scott Bessent called the operation an "economic onslaught" targeting Iran's "enablers", though he did not name them.
Australian-American economist Justin Wolfers said he was struck by the lack of reaction from financial markets, pointing to the Trump administration's "long history" of not following through on strong measures as the reason behind the muted response.

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