President Donald Trump said on Monday that countries that do business with Iran will face a new 25% tariff. Trump did not define what qualifies as “doing business” with Iran. The new tariff could mean a minimum 45% tariff rate on goods from China versus the current rate of 20%. In addition to China, India, the United Arab Emirates, and Turkey are considered major trading partners with Iran. He threatened to impose similar tariffs on other countries that purchase Russian oil, including China, its largest customer.

Source: CNN January 13, 2026 09:16 UTC