Tue, 13 Jan 2026

Tue, 13 Jan 2026 Which countries do business with Iran and what could US tariffs mean?

Donald Trump has announced a 25% tariff on countries trading with Iran after its deadly crackdown on anti-government protests.

* US President Donald Trump has announced that countries doing business with Iran will face a 25% tariff on trade they do with America.
* The tariff is reportedly effective immediately, but details on how it will work in practice and which countries it will apply to have not been provided by the White House.
* China is Iran's biggest export partner, buying over $14bn worth of products from Iran in the year to October 2025.
* Almost all of Iran's top 10 exports are fuel-related, with food making up a significant portion of its imports.
* The US has not specified under what law the new tariff would be introduced and it is unclear if it will come on top of existing tariffs.
* Enforcing the proposed tariff could be difficult due to Iran's use of shadow ships to export oil and its sale of oil in Chinese yuan rather than US dollars.
* China has warned that it will "take all necessary measures" to protect its interests, suggesting a potential trade conflict between the US and China.
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