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U.S. President Donald Trump said that countries that do business with Iran will face a new 25% tariff.
“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,” Trump wrote on Truth Social on Monday. “This Order is final and conclusive,” he added.
CNN reported that the White House declined to share additional information on the tariff and how the Trump administration plans to implement it.
Trump’s announcement comes amid his suggestions of U.S. military intervention to “rescue” anti-government protesters in Iran, as various reports place the death toll in the hundreds.