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Trump Authorizes Tariffs on Countries Trading with Iran
(MENAFN) US President Donald Trump signed an executive directive on Friday, granting powers to levy tariffs on nations that engage in commerce with Iran, though he refrained from implementing the penalties immediately.
The directive coincided with the first round of US-Iran nuclear negotiations in over six months. While it does not define the precise rate of the secondary tariffs, it references 25% as an "example."
According to Trump's order, the tariff "may be imposed on goods imported into the United States that are products of any country that directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran."
The executive order assigns the secretaries of state and commerce the responsibility of determining "whether, after the effective date of this order, a foreign country directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran."
It further stipulates that "After the Secretary of Commerce finds that a foreign country directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran, the Secretary of Commerce shall inform the Secretary of State of his finding, including any information relevant to that finding."
Trump initially revealed the forthcoming penalties last month through a social media post, at a time when Iran was experiencing widespread demonstrations and facing accusations of severe human rights violations in response.
The directive coincided with the first round of US-Iran nuclear negotiations in over six months. While it does not define the precise rate of the secondary tariffs, it references 25% as an "example."
According to Trump's order, the tariff "may be imposed on goods imported into the United States that are products of any country that directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran."
The executive order assigns the secretaries of state and commerce the responsibility of determining "whether, after the effective date of this order, a foreign country directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran."
It further stipulates that "After the Secretary of Commerce finds that a foreign country directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran, the Secretary of Commerce shall inform the Secretary of State of his finding, including any information relevant to that finding."
Trump initially revealed the forthcoming penalties last month through a social media post, at a time when Iran was experiencing widespread demonstrations and facing accusations of severe human rights violations in response.
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