The White House issued a statement stating that US President Donald Trump on Friday signed an executive order that could impose tariffs of up to 25% on countries that have trade relations with Iran.
According to Bloomberg, the executive order states that “duties may be imposed on goods imported into the United States from any country that purchases, imports, or otherwise obtains goods or services from Iran, whether directly or indirectly.”
This order gives the Ministers of Foreign Affairs and Trade the authority to determine whether any country meets the conditions required to apply the duties.
Once this outcome is reached, the policies authorize the two secretaries, in coordination with the Office of the US Trade Representative and the Department of Homeland Security, to determine the “extent” to apply the additional tariffs.
Trump had indicated his intention to impose these fees on social media in mid-January, announcing that they would take effect immediately.
However, no official decision was issued formalizing this policy as of Friday. Trump did not specify what percentage would be imposed, but used the 25 percent he initially threatened on Iran’s trading partners as an “example.”
