Trump threatens 25% tariffs on Iran trade partners as nationwide internet outage continues

Donald Trump said on Monday that any country doing business with Iran will face a 25% tariff on all trade connected to the United States.

Trump said the tariff applies to “any and all business being done with the United States of America” by nations that keep economic ties with Iran. The announcement was [naturally] posted on Truth Social, where the president wrote:-

“Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America. This Order is final and conclusive.”

Trump’s tariff threat lands as protests, legal pressure, and internet shutdown continue

The tariff announcement comes as Iran deals with widespread anti-government protests. Trump has warned that alleged killings of these protesters could trigger military action against Iran.

The US president has also publicly supported the demonstrations against the Iranian government via so many social media posts.

Meanwhile, the Supreme Court is currently reviewing whether several of Trump’s earlier tariffs were legal, including the infamous reciprocal duties announced in early April and others tied to alleged fentanyl trafficking.

Trump relied on the International Emergency Economic Powers Act, known as IEEPA, to impose those tariffs, but it’s still unclear whether the new Iran-linked tariff also uses that law.

At the same time, Iran remains largely offline. NetBlocks reported that Iranian citizens have been without internet or telecommunications access for 96 hours. The shutdown has caused major economic damage.

Sharareh Abdolhoseinzadeh, a political researcher based in Tehran, said earlier disruptions hit businesses hard. During the 2022 Woman Life Freedom protests, daily losses ranged from 500 million to 5 billion rial. He said three months of internet outages in Iran equal 43% of annual oil revenue, which is estimated at $25 billion.

The Pentagon has presented Trump with a wider range of military strike options against Iran, including targeting nuclear and missile sites, according to a New York Times report.

Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.