Overview
- President Donald Trump announced the tariff in a Truth Social post, calling it immediate, final, and applicable to any country trading with Iran on all business conducted with the United States.
- Bloomberg reported the measure could unsettle key U.S. trade relationships, with risks for ties involving China, India, and Turkey after a late‑2025 U.S.–China trade truce.
- China remains the largest buyer of Iranian oil, and independent Chinese refineries increased purchases last month.
- India’s Federation of Indian Export Organizations said the impact on India would be minimal because its exports to Iran are largely food and pharmaceuticals; it cited $1.68 billion in total trade for FY2024–25, including $1.24 billion in Indian exports.
- The move follows nationwide unrest in Iran with hundreds reported killed and over 10,000 arrested, as CNN reported U.S. officials have discussed additional non‑military and military options while Trump said Iranian leaders want negotiations.