Trump Signs Executive Order Targeting Countries That Trade with Iran

(MENAFN) US President Donald Trump signs an executive order on Friday granting the authority to impose tariffs on countries that engage in trade with Iran, though no penalties are enacted immediately, as stated by reports.

The order coincides with the first US-Iran nuclear discussions in over six months. While it does not set a definitive tariff rate, it cites 25% as an "example."

The directive states that the duty "may be imposed on goods imported into the United States that are products of any country that directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran." It instructs the secretaries of state and commerce to determine "whether, after the effective date of this order, a foreign country directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran."

"After the Secretary of Commerce finds that a foreign country directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran, the Secretary of Commerce shall inform the Secretary of State of his finding, including any information relevant to that finding," the order adds.

Trump initially announced the potential penalties last month in a social media post, amid widespread demonstrations in Iran and accusations of severe rights violations by Iranian authorities in response to the protests.

The executive order is set to take effect early Saturday, according to reports.

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