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Canadian Prime Minister Mark Carney drew international attention earlier this year by warning that middle powers such as Canada must resist economic coercion.
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Canada suspended trade negotiations, triggering President Trump's 50 percent tariffs on a range of Canadian goods. Mark Carney said he would retaliate "dollar for dollar."
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Bessent told CNBC that the sanctions will be the "toughest" in history.
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Iran's new hard-line national security adviser, Mohsen Rezaei, vowed to prevent "a single drop of oil" from leaving the region.
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The former defence minister has also called for wartime elections to be held in Ukraine.
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Canada's prime minister said he was "reluctantly" announcing retaliatory tariffs as he accused the US of starting a trade war.
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President Joseph Aoun took office with a popular mandate to reassert control after the militant group dragged the country back into war with Israel.
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