United States President Donald Trump on Monday said that a tariff rate of 25% will be imposed on goods from countries doing business with Iran. The action against Tehran came as anti-government protests in the West Asian country entered their third week.
While China is Iran’s largest trading partner, India has been among the top five countries with which Tehran has had trade ties in recent years.
Without a trade deal with Washington, Indian goods are already facing a combined US tariff rate of 50%. A 25% so-called reciprocal duty was imposed on August 7, followed by an additional 25% punitive levy on August 27.
On Monday, Trump said on social media: “Effective immediately, 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. This order is final and conclusive.”
Earlier on Monday, Trump had threatened to intervene militarily if Tehran killed protesters, the BBC reported. White House spokesperson Karoline Leavitt also said that military options, including air strikes, were still “on the table”, BBC reported.
The protests in Iran, which began on December 28, were initially focused on discontent about rising inflation. However, they later expanded in scope as protesters in more than 100 cities demanded an end to clerical...
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