US President Donald Trump announced on Truth Social that he is imposing 25% tariffs on countries doing business with Iran.
The decision takes effect immediately and applies to all countries doing business with Tehran, he wrote.
The Islamic Republic's main trading partners include India, Turkey and China, Bloomberg notes. The US president has already imposed tariffs of up to 50% on Indian goods due to purchases of Russian oil. An additional 25% tariff on Chinese products could disrupt the trade truce that Trump reached with Xi Jinping at the end of last year, the agency writes.
A few hours ago, White House press secretary Caroline Levitt said that Trump is considering any action against Iran for its harsh crackdown on protests, including air strikes, but considers diplomacy his “first option“.
According to a source from Axios, although the Republican is leaning towards air strikes over the deaths of protesters, a final decision has not yet been made. The US president intends to discuss possible actions with his national security team on Tuesday, January 13. According to the publication's source, some in the administration believe that strikes against Iran could be counterproductive.
The mass unrest, initially sparked by the sharp decline in the rial and the deteriorating economic situation in Iran, has been ongoing since late December. Bloomberg calls it the most serious challenge to the country's leadership since 1979. According to the Human Rights Activist News Agency, more than 500 people have been killed and approximately 10,000 have been arrested in the crackdown on the protests.
On January 12, Iranian Foreign Minister Abbas Araghchi announced an open channel of communication with Trump's special envoy for the Middle East, Steve Witkoff. He had previously accused the United States and Israel of involvement in the protests.