US President Trump announces 25% tariff on countries doing business with Iran
US President Donald Trump has announced a 25% extra tariff on countries that do business with Iran. Trump posted on Truth Social on Monday night that the decision would be effective immediately.
However, the White House has not yet issued any official document regarding this tariff. This decision comes at a time when anti-government protests are ongoing in Iran, in which more than 600 people have reportedly been killed.
Meanwhile, the value of the Iranian currency, the rial, has plummeted to almost zero. One rial is now worth 0.000079 Indian rupees.
The US has already imposed strict economic sanctions on Iran. According to a Reuters report, major countries trading with Iran include China, the United Arab Emirates, and India. The implementation of this tariff could impact these countries’ trade with the United States.
