Trump Slaps 25% Tariffs on Nations Trading with Iran, India Impacted

In a post on Truth Social, Trump said that the decision would be "immediately" in effect and that the "order is final and conclusive."

"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. This Order is final and conclusive. Thank you for your attention to this matter!" Trump said in his post.

Trump's decision could impact India, which exports and imports a significant amount of products with Iran.

India already faces a 50 per cent tariff on its imports to the US, 25 per cent of which is due to its purchase of Russian oil, which Washington claims fuels Moscow's war efforts in Ukraine.

According to the Ministry of External Affairs (MEA), India and Iran are important trade partners.

India has been among Iran's five largest trade partners in recent years. Major Indian exports to Iran include rice, tea, sugar, pharmaceuticals, manmade staple fibres, electrical machinery, artificial jewellery, etc., while major Indian imports from Iran consist of dry fruits, inorganic/organic chemicals, glassware, etc.

Meanwhile, US Republican Senator Lindsey Graham praised the Trump decision to impose 25 per cent tariffs, saying that the US President's decision in "isolating" the Khamenei regime economically is most impressive.

Sharing a post on X, Graham wrote, "Mr President: your decisive leadership in isolating this regime economically through your actions today are most impressive. Your promise to have the protestors' back and put the regime on notice that you will not tolerate the killing has led to the largest outpouring of demonstrators against this fanatical regime since its founding. Mr President: I believe the Iranian regime has crossed red lines. They are killing their people in large numbers and mocking your leadership. It is now time to take decisive military action -- no boots on the ground - going after those who do the killing."

This comes as large demonstrations were reported across provinces, including Azerbaijan province and the central city of Arak, with crowds waving flags and chanting slogans in support of Iran, Press TV reported. The protests and counter-demonstrations follow days of unrest amid soaring inflation, economic hardship and public anger over governance.

At least 544 people have been killed, and more than 10,681 individuals have been arrested and transferred to prisons, according to the Human Rights News Agency.

Earlier on Sunday (local time), Trump said that Washington may be forced to take action against Iran amid ongoing nationwide protests, even as he revealed that Tehran has reached out to Washington seeking negotiations.

Speaking to reporters onboard Air Force One, Trump said Iranian leaders had contacted Washington to discuss diplomatic engagement.

When asked whether Iran wanted to engage in diplomatic talks with him, Trump responded affirmatively.

"They do. They called. Iran called to negotiate yesterday. The leaders of Iran called. They want to negotiate. I think they're tired of being beat up by the United States. Iran wants to negotiate," Trump said.

The US President, during the interaction, further added that a meeting was in the process of being arranged but cautioned that developments on the ground inside Iran could force Washington's hand before talks take place.

- ANI