Trump Slaps 25% Tariff on Nations Trading With Iran

Former U.S. President Donald Trump announced a new policy to impose a 25% tariff on all countries that conduct business with Iran. He stated the levies would be applied immediately by the United States. This move could significantly affect major economies, including China and India. Both nations maintain trade relations with Iran. The policy aims to increase economic pressure on Iran. It uses tariffs, which are taxes on imports, as a primary tool. The announcement did not specify if any nations would be granted exemptions.