Trump announces 25% tariff on 'any country' trading with Iran, move could impact India, China, UAE
New York/Washington (PTI): US President Donald Trump announced that any country “doing business" with Iran will have to pay a 25 per cent tariff on its trade with Washington, a move that could impact Tehran’s major trading partners such as India, China and the UAE.
"Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25 per cent on any and all business being done with the United States of America. This Order is final and conclusive,” Trump said in a post on Truth Social Monday.
Among Iran’s major trading partners are China, Turkey, India, the UAE, Pakistan and Armenia.
The announcement by Trump could impact India, which has been among Iran’s five largest trade partners in recent years.
The US has already imposed 50 per cent tariffs on India, among the highest in the world, including 25 per cent for Delhi’s purchases of Russian energy.
According to the Indian Embassy in Tehran, major Indian exports to Iran include rice, tea, sugar, pharmaceuticals, manmade staple fibres, electrical machinery and artificial jewellery, while major Indian imports from Iran consist of dry fruits, inorganic/organic chemicals and, glassware.
According to the Observatory of Economic Complexity (OEC), an online data visualisation and distribution platform, exports from India to Iran in 2023 totalled 1.19 billion dollars, while imports into India totalled 1.02 billion dollars.
During 2023, the top exports from India to Iran were rice (USD 734M), Soybean Meal (USD 96.8M), and Bananas (USD 52M). Top exports from Iran to India included Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) (USD 309M).
“India and Iran share a millennia-long history of interactions. The contemporary and relationship draws upon the strength of these historical and civilisational ties, and continues to grow further marked by high-level exchanges, commercial and connectivity cooperation, cultural and robust people-to-people ties,” the Indian Embassy in Tehran has said.
A key aspect of India-Iran ties is the joint development of the Chabahar port. Located in the Sistan-Balochistan province on the energy-rich Iran’s southern coast, the Chabahar port is being developed by India and Iran to boost connectivity and trade ties.
In May 2015, India and Iran signed an MoU on ‘Partnership of India in the Development Plan of Chabahar Port’.
This was followed by the signing of a Trilateral Agreement in May 2016 between India, Iran and Afghanistan to establish the International Transport and Transit Corridor (Chabahar Agreement). India is participating in the development of the first phase of the Shahid Beheshti Terminal, Chabahar Port in cooperation with Iran, the Ministry of External Affairs has said.
In December 2018, an Indian company, India Ports Global Limited (IPGL) through its wholly owned subsidiary, India Ports Global Chabahar Free Zone (IPGCFZ), took over the operations of Chabahar Port.
In May 2024, IPGL signed a ten-year contract with the Ports and Maritime Organisation (PMO) of the Islamic Republic of Iran for equipping and operating the Shahid Beheshti Terminal of Chabahar Port.
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Bengal: Over 55 pc turnout till 1 pm in repoll in 15 booths of 2 assembly seats
Kolkata (PTI): Over 55 per cent turnout was recorded till 1 pm in repoll in 15 booths of two assembly constituencies in West Bengal's South 24 Parganas district on Saturday, an official said.
Voting was underway more or less peacefully at 11 polling stations of Magrahat Paschim assembly constituency and four in Diamond Harbour, where the EC ordered repoll a day ago, following reports of electoral malpractices.
However, at booth number 179 at Chanda Primary School of Diamond Harbour seat, the Trinamool Congress alleged that a specially abled voter and his mother were harassed by central forces. The alleged incident sparked protests by party workers and locals.
The TMC claimed that the voter's mother, who had entered the booth to assist him, and her son were detained for a considerable time by central forces over alleged rule violations.
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"TMC leaders Manmohini Biswas and Pratik Ur Rahman reached the spot and led the protests, with residents terming the action unwarranted harassment. The matter has been taken care of by our officials there," an official of the poll body said.
Polling was otherwise peaceful across 15 booths in the area, he added.
Voting began at 7 am and will continue till 6 pm, the official said, adding that till 1 pm, the turnout was 55.57 per cent.
Magrahat Paschim registered 56.33 per cent voter turnout, while in Diamond Harbour, it was 54.9 per cent, a poll official stated.
Voting in these two assembly constituencies was held in the second phase of the state elections on April 29.
The repoll order was based on reports received from returning officers and observers of the two constituencies and "material circumstances", the Election Commission official said.
In Magrahat Paschim, TMC's Md Samim Ahamed Molla is pitted against BJP nominee Goursundar Ghosh, while Abdul Majid Halder of the Congress and ISF candidate Abdul Aziz Al Hassan are also in the fray.
TMC candidate Panna Lal Halder is contesting against Dipak Kumar Halder of the BJP in the Diamond Harbour seat. Goutam Bhattacharya of the Congress and CPI(M)'s Samar Naiya are among other candidates.
The BJP had alleged rampant electoral malpractices in certain polling stations of both the assembly seats under the Diamond Harbour Lok Sabha constituency, which is represented by TMC national general secretary Abhishek Banerjee.
The EC had deputed its special observer, Subrata Gupta, to fact-check the allegations from the ground.
The poll panel will decide on repolling in the Falta assembly constituency on Saturday.
The West Bengal assembly elections were held in two phases -- April 23 and April 29 -- amid unprecedented security arrangements.
Counting of votes will take place on May 4.
