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Iranian officials say they are keeping communication channels with the United States open as President Donald Trump considers how to respond to the Middle Eastern nation’s crackdown on protests.
Adding to threats of military action, Trump announced any country doing business with Iran will face a new tariff of 25 per cent on its exports to the US.
“This Order is final and conclusive,” he said in a social media post.
While Trump provided little detail, the move may have more of a symbolic than a practical effect since Iran, a major oil producer, already faces extensive US and international trade sanctions.
Iran’s economy has long been intertwined with international trade, with China, the United Arab Emirates, and India standing out as key destinations for its exports. These countries play a significant role in Iran’s trade relations, providing vital markets for its goods.