Overview
- No executive order or guidance has been released, so definitions of “doing business,” coverage of goods versus services, and enforcement remain unspecified.
- The administration’s reliance on the International Emergency Economic Powers Act to set tariffs is under Supreme Court review, with a ruling expected this month.
- Analysts say major U.S. partners could be exposed, with estimates suggesting combined duties on Chinese goods could rise to roughly 45% if the new levy is applied.
- Indian government sources project minimal disruption given limited bilateral trade with Iran and mostly humanitarian exports, though formal U.S. details are still awaited.
- The move follows weeks of deadly unrest and a communications blackout in Iran, and it has stirred market caution including a modest oil price uptick as officials weigh diplomatic and military options.