WASHINGTON - President Donald Trump said on Monday any country that does business with Iran will face a tariff rate of 25% on any trade with the US.
"Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any business being done with the United States of America," Trump said in a post on Truth Social. Tariffs are paid by U.S. importers of goods from those countries. Iran, a member of the OPEC oil-producing group, has been heavily sanctioned by Washington for years.
It exports much of its oil to China, with Turkey, Iraq, the United Arab Emirates, and India among its other top trading partners.
"This Order is final and conclusive," Trump said without providing any further detail.
Oman Observer is now on the WhatsApp channel. Click here
