Trump orders 25% tariff on countries doing business with Iran

US President Donald Trump on Monday announced a 25 percent tariff on any country trading with Iran, ramping up pressure on Tehran over its violent crackdown on a wave of protests. "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," Trump said on Truth Social. Trump's action could upset major US trading relationships around the world. Iran's partners include not only regional states, but large economies including India, Turkey, China and the UAE.

Trump offered no details on how the policy would be enforced, which countries could be affected, or whether exemptions would be granted for humanitarian or strategic trade. The US President said his administration was in talks to set up a meeting with Tehran, but cautioned that he may have to act before then as reports of deaths mount and Iran's government continues to arrest protesters. “Iran called, they want to negotiate,” Trump told reporters on Air Force One. Iran did not acknowledge Trump’s comments immediately. It has previously warned the US military and Israel would be “legitimate targets” if America uses force to protect demonstrators.