Mangione's lawyers immediately argued his federal plea means he cannot be prosecuted in state court for Brian Thompson's slaying due to double jeopardy.
"It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz," Bessent said.
The tax championed by Mayor Zohran Mamdani has drawn the ire of President Donald Trump, who said it must be stopped and vowed to explore federal options.