Tehran has accused Mr Trump’s US government of waging “economic warfare” on its citizens.
The new measures will provide economic support for 20 million lower-income residents who make up one quarter of Iran’s population.
Extra financial relief will also be rushed to the poorest 11 million people in the country, which has seen its economy pummelled by White House sanctions.
In May, Mr Trump hauled the US out of a key global nuclear deal with Iran, which lifted sanctions in return for curbs on Iran’s nuclear activity.
Iran’s currency has plummeted in value since Mr Trump unleashed the punishing economic restrictions.
International Monetary Fund (IMF) forecasts predict Iran’s economy will dip by 3.6 per cent next year.
The cost of living has soared, causing hardship for Iranian residents.
Foreign companies which traded with Iran were told they would also be hit with penalties from the White House.
Mr Trump’s sanctions targeted Iran’s foreign-currency trade, coal, metals trading and auto-parts industry
The US Treasury Department gave foreign companies 180 days to pull out of doing business with Iran.
A second round of sanctions is set to hit Iran on November 5.
This month’s new barrage of sanctions will target Iran’s oil industry, port operators and energy, shipping and shipbuilding sectors.
US allies have been warned by the White House to cut oil purchases from Iran to zero by November 4.
In September, Mr Trump told the UN’s General Assembly: “This horrible, one-sided deal allowed Iran to continue its path towards a bomb and gave the regime a cash lifeline when they needed it the most.
“They were in big, big trouble. They needed cash.”
The bombshell move brought condemnation from many US allies as well as China.
Mr Trump pulled the US out a 2015 deal signed by Barack Obama and other world leaders