US President Donald Trump on Monday announced sweeping new tariffs targeting nations maintaining commercial ties with Iran.
Effective immediately, the US will impose a 25 per cent tariff on all goods and services imported from any country that “does business” with Iran, Trump said in a social media post.
The president characterised the order as “final and conclusive”.
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While the order is global, it is expected to hit major economies, specifically China and India, the hardest, given their significant energy and commercial ties with Tehran.
More to follow…
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