United States President Donald Trump signed an executive order imposing tariffs on any country that does business with Iran as a means of protecting US “national security, foreign policy, and economy” on Friday.
The executive order, which Trump first announced his intention to implement on January 13, detailed that, on top of pre-existing US import taxes, an additional tariff will be imposed on important goods coming from “any country that directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran.
The additional tariff amount will be proportional to the value of the imported goods, the order continued, suggesting that the tariff may be up to 25%.
A fact sheet accompanying the executive order titled “President Donald J. Trump Addresses Threats to the United States by the Government of Iran,” the aim of the order is to hold Iran “accountable for its pursuit of nuclear capabilities, support for terrorism, ballistic missile development, and regional destabilization that endanger American security, allies, and interests.”
The White House cited “mismanagement of Iran’s resources” as a reason for the order, stating that the regime has prioritized developing arms programs over the needs of the Iranian people and crumbling infrastructure.
“The regime brutally represses its own people, killing thousands of protesters, denying human rights, and using violence to maintain power, while spreading extremism and undermining US efforts for peace and stability,” the fact sheet asserted.
The White House release stated that Trump may modify the newly issued order “if circumstances change” or “in response to retaliation.”
In the case “Iran or an affected country takes significant steps to… align with the United States on national security, foreign policy, and economic matters,” the fact sheet added, the tariffs may also be modified.
The order additionally authorized US Secretary of State Marco Rubio, Secretary of Commerce Howard W. Lutnick, and the US trade Representitive to “to take all necessary actions, including issuing rules and guidance, to implement the tariff system and related measures.”