US President Donald Trump announced a 25% tariff on goods from countries that do business with Iran, saying the measure was effective immediately.
Trump said the tariff would apply to “any and all business being done with the United States of America,” without clarifying what qualifies as doing business with Iran.
Any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America.
Donald Trump said.
China is Iran’s largest trading partner, followed by Iraq, the United Arab Emirates, Turkey and India.
The move comes as anti-government protests in Iran enter a third week, fuelled by economic hardship and currency collapse.
The White House said military options, including air strikes, remain under consideration if the situation escalates.
Protests were triggered by the sharp fall of Iran’s currency, the rial, which has hit record lows amid soaring inflation.
The Human Rights Activist News Agency reported nearly 500 protesters and 48 security personnel have been killed, though the true toll may be higher.
Thousands of people have reportedly been arrested, with an internet blackout limiting independent verification.
International sanctions and domestic mismanagement have continued to weigh heavily on Iran’s economy.