Donald Trump to Impose Tariffs on Countries Trading with Iran: Bloomberg

China, the UAE, and Turkey are at risk due to tariffs imposed by Trump on Iran, as reported by Bloomberg.

China and the UAE are Iran’s largest trading partners, placing them among the countries threatened by Trump’s imposition of 25% tariffs. According to the International Monetary Fund, trade with China is projected to reach $17.8 billion in 2024, as Iran supplies nearly 90% of its oil to China. The UAE ranks second with $16.1 billion, followed by Turkey with $8.8 billion, and India in fourth place with $2.1 billion.

European economies are also vulnerable, with Iran’s combined trade with Germany and Switzerland approaching $3.5 billion.

Trump has not specified which transactions, goods, or organizations will be subjected to tariffs, nor how they will be enforced. Iran's trade data is opaque, as the country publishes limited statistics to evade sanctions and channels trade through third countries, the publication notes.