Trump claims Iran 'collapsing' as US threatens 'economic D-Day'

US President Donald Trump said Monday that Iran was "collapsing" as Washington prepared to announce the details of a new economic pressure campaign that Tehran has derided as an admission of defeat.

Almost six months into their war, the two sides are locked in a stalemate, with peace talks stalled, Iran keeping the key Strait of Hormuz shut and Washington persisting with a naval counter-blockade of Iran.

Under political pressure at home over the economic impacts of the conflict, Trump has pivoted away from military action to economic levers.