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Donald Trump’s tariff attack: Imposes 25% tariffs on countries doing business with Iran
Donald Trump’s tariff attack: Imposes 25% tariffs on countries doing business with Iran
Donald Trump announced that the US is going to impose a 25 percent tariff on all their business dealings with the country.
Washington DC: Amid the escalating tensions between the United States and Iran, President Donald Trump on Monday (local time) took stringent action against the Middle East country by imposing a 25 percent tariff on all countries that ‘continue to do business with Iran'. The sweeping measure directly targets Iran-friendly countries and imposes a 25 percent tariff on all their business dealings with America. Trump took to his social media platform Truth Social and informed about the major development, saying that the decision would be ‘immediately' in effect and that the ‘order is final and conclusive.'
The US President stated that countries doing business with Iran will have to pay a 25 percent tariff and the decision is ‘final and conclusive.'
“Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America. This order is final and conclusive. Thank you for your attention to this matter!” Trump said in his post.
It is to be noted that the US decision could impact India as the country exports and imports a major amount of products with the Middle East country.
India already faces a 50 per cent tariff on its imports to the US, 25 per cent of which is due to its purchase of Russian oil, which Washington claims fuels Moscow's war efforts in Ukraine.
According to the Ministry of External Affairs (MEA), India and Iran are important trade partners. India has been among Iran's five largest trade partners in recent years. Major Indian exports to Iran include rice, tea, sugar, pharmaceuticals, manmade staple fibres, electrical machinery, artificial jewellery, etc., while major Indian imports from Iran consist of dry fruits, inorganic/organic chemicals, glassware, etc.
Meanwhile, US Republican Senator Lindsey Graham praised the Trump decision to impose 25 per cent tariffs, saying that the US President's decision in “isolating” the Khamenei regime economically is most impressive.
Sharing a post on X, Graham wrote, “Mr President: your decisive leadership in isolating this regime economically through your actions today are most impressive. Your promise to have the protestors' backs and put the regime on notice that you will not tolerate the killing has led to the largest outpouring of demonstrators against this fanatical regime since its founding. Mr President: I believe the Iranian regime has crossed red lines. They are killing their people in large numbers and mocking your leadership. It is now time to take decisive military action — no boots on the ground – going after those who do the killing.”
Mr. President: your decisive leadership in isolating this regime economically through your actions today are most impressive. Your promise to have the protestors' back and put the regime on notice that you will not tolerate the killing has led to the largest outpouring of… https://t.co/llJmWVH82Y
The development comes amid massive protests across the Middle Eastern country. People were seen waving flags and chanting slogans. The protests started after days of unrest amid soaring inflation, economic crisis and public anger over governance.
(With ANI Inputs)
Source: India.com
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