United States President Donald Trump has announced that a new global tariff on countries trading with Iran will be imposed at 25 per cent by the world’s largest economy. The big move is an act as a strategy to tackle Iran over its response to the protests that have reportedly involved around 600 people.
Trump has warned firmly that his government will take military action if it determines that the Iranian government is using lethal force against protestors. Donald mentioned that Iran has begun to be a concern for his national security, which he considers crossing the line. This has led him to take action against Iran.
Trump announced the measure in a social media post on Monday, stating that it will take effect immediately. It includes several major economies: Brazil, Russia, Turkey, and India, to maintain trade ties with Iran.
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Donald Trump wrote on his social media post, “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!”
India is already struggling with 50 per cent tariffs on its exports to the US. While 25 per cent of this figure is due to reciprocal tariffs, the remaining 25 per cent is a penal duty on India’s crude oil imports from Russia. This big move will have a significant impact on the Indian economy.
