Overview
- Trump announced the measure on Truth Social as “effective immediately” and “final and conclusive,” but offered no definition of what counts as doing business with Iran.
- Countries flagged as potentially affected include China, India, the United Arab Emirates, Turkey, the European Union and Russia, with analysts noting combined duties on Chinese goods could reach roughly 45%.
- China condemned the move as illicit unilateral sanctions and signaled it would defend its interests, raising concerns about the fragile US–China trade truce.
- Oil prices rose following the announcement, and economists warned of possible global trade and supply‑chain disruptions if the tariff is enforced.
- Legal uncertainty looms as the Supreme Court reviews the administration’s use of emergency powers for tariffs, a ruling that could curb authority or force refunds.