Explore more publications!

White House Authorizes Possible Tariffs on Countries Trading With Iran

(MENAFN) US President Donald Trump on Friday signed an executive order granting the federal government the power to levy tariffs against countries that maintain commercial ties with Iran, though the measure does not immediately enforce any trade penalties.

The directive was finalized on the same day Washington held nuclear-related discussions with Tehran for the first time in over six months. While the order allows for the use of so-called secondary tariffs, it does not define a fixed rate, instead referencing 25% only as an illustrative figure.

According to the text of the 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."

Responsibility for identifying countries that fall under this provision is assigned to the secretaries of state and commerce. They are instructed to assess "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."

The document further explains the process of coordination between departments, stating: "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."

Reports note that Trump initially signaled his intention to pursue such penalties last month through a social media statement, released while Iran was experiencing widespread protests and facing accusations of severe human rights violations in response to the unrest.

The executive order is scheduled to come into force early Saturday.

MENAFN07022026000045017281ID1110708520


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Share us

on your social networks:
AGPs

Get the latest news on this topic.

SIGN UP FOR FREE TODAY

No Thanks

By signing to this email alert, you
agree to our Terms & Conditions