It\u2019s unclear what the President meant by \u201cdoing business,\u201d and which countries the latest policy actually covers. The White House has not yet published any information about the new tariff policy or what legal authority it relies on, nor did the White House immediately respond to TIME\u2019s request for clarification.<\/p>\n
What\u2019s clear, however, is that the Iran-related levies follow Trump\u2019s use of tariffs<\/a> to influence foreign policy and \u201cpunish<\/a>\u201d countries that don\u2019t align with the U.S., and as a potential bargaining chip for diplomatic negotiations.<\/p>\n Read More: What\u2019s Happening in Iran Right Now, Explained<\/a><\/p>\n But experts have warned that Trump\u2019s tariffs may ultimately come back to bite the American consumer, and the threat of a 25% additional tariff\u2014on top of the levies he already introduced last year that have raised prices<\/a>\u2014could impact some of the U.S.\u2019s biggest trading partners.<\/p>\n Here are some of the economies that could be covered under Trump\u2019s latest tariff threat.<\/p>\n China<\/p>\n China is a major trading partner of Iran: Chinese customs data shows that from January to November 2025, the country exported $6.23 billion worth of goods to Iran and imported $2.86 billion, and that doesn\u2019t include China\u2019s oil imports from Iran through \u201cteapots<\/a>\u201d\u2014smaller independent refineries that buy to resell about 90% of Iranian oil exports, as China seeks to evade sanctions on Iran.<\/p>\n Trump\u2019s latest threat of tariffs on Iran\u2019s trading partners would increase the average U.S. levy of 47%<\/a> that his Administration has imposed on Chinese exports to 72%, which could reignite the trade war between the two biggest economies in the world. Global markets roiled after Trump\u2019s tariffs on Chinese goods peaked at a total of 145% last year, and the current average was reached only after months of negotiations.<\/p>\n India<\/p>\n India has also been among Iran\u2019s largest trade partners in recent years. Major Indian exports to Iran include rice, tea, sugar, pharmaceuticals, and electrical machinery, while New Delhi primarily imports dry fruits, inorganic or organic chemicals, and glassware. Reuters reports<\/a> that India’s total bilateral trade with Iran was at $1.34 billion for the first 10 months of 2025, citing data from India’s commerce ministry.\u00a0<\/p>\n India also already faces existing tariffs under Trump. In August, the U.S. President imposed a minimum 50% tariff<\/a> on goods from India in an attempt to punish the country for buying Russian oil. But The Hindu<\/a> reported that India would likely be able to find alternative trading partners to Iran, should Trump\u2019s latest tariff threat materialize. While stopping imports from Iran could potentially affect India\u2019s fresh fruit supply in the short term and stopping exports would most impact the basmati rice sector, the country has historically reduced trade with Iran in response to past U.S. sanctions.<\/p>\n T\u00fcrkiye<\/p>\n T\u00fcrkiye and Iran, which share a border, have been working to boost their trade ties: the two set an aspirational target of $30 billion in bilateral trade volume<\/a>.\u00a0<\/p>\n According to T\u00fcrkiye\u2019s Ministry of Foreign Affairs<\/a>, the total volume of trade it has with Iran was $5.68 billion in 2024. T\u00fcrkiye mainly exports machinery and parts, plastics and various chemical products, agricultural products, and metal ores \u200bto Iran, while it imports natural gas, metal, and agricultural products from its neighbor.<\/p>\n Currently, the U.S., which has a $1.4 billion goods trade deficit and $940 million services trade surplus with T\u00fcrkiye, has imposed an average 15% reciprocal tariff on goods from T\u00fcrkiye<\/a>, which is relatively moderate compared to other countries\u2019 rates.<\/p>\n United Arab Emirates<\/p>\n Data from the United Arab Emirates\u2019 Ministry of Economy and Tourism<\/a> shows the total trade volume between the UAE and Iran just across the Persian Gulf was at $6.62 billion in 2024, though Abu Dhabi has acted as a re-export hub for goods<\/a>, allowing Iran\u2019s products to move through its ports and into other global markets.<\/p>\n Under Trump\u2019s \u201creciprocal tariff\u201d policy last year, goods from most countries, including Gulf States like the UAE, face a baseline 10% duty.<\/p>\n Brazil<\/p>\n Iran has found a stable Latin American trading partner in Brazil, with trade relations fueled by agribusiness. Last year, CNN Brasil reported<\/a>\u2014citing federal data\u2014that Brazilian exports to Tehran exceeded $3 billion in 2024. Among Brazil\u2019s top exports to the country are soybeans, followed by corn, sugar, and other agricultural products. Brazil, however, imports relatively little from Iran<\/a>. Iran\u2019s state-funded broadcaster Press TV also reported last year<\/a> that Bras\u00edlia and Tehran have agreed to boost their trade volume to around $10 billion.<\/p>\n Brazil and Iran have stable diplomatic relations: Iran in 2024 joined the BRICS regional bloc, of which Brazil was a founding member alongside Russia, India, and China. Trump last year threatened an additional 10% tariff<\/a> on countries that support the \u201canti-American\u201d policies of the bloc, after earlier threatening a 100% tariff on the group should they try to push an alternative to the dominance of the U.S. Dollar.<\/p>\n The U.S. is Brazil\u2019s second-largest trading partner, with goods and services trade totaling $127.6 billion in 2024. But last August, Trump hiked tariffs on Brazilian goods to 50%<\/a> in response to Brazil\u2019s treatment of its former President Jair Bolsonaro, a Trump ally who was sentenced months later in September<\/a> to 27 years in prison for leading an attempted coup in January 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"It\u2019s unclear what the President meant by \u201cdoing business,\u201d and which countries the latest policy actually covers. 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