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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Karnataka Police crack ₹30 lakh gold theft case, one arrested
Chikkaballapur: Police in Karnataka’s Sidlaghatta have cracked a gold theft case involving jewellery stolen from a woman during a bus journey and arrested one accused, officials said on Monday.
A special police team recovered 240 grams of gold ornaments valued at around ₹30 lakh.
According to a report published by NDTV, the victim, a resident of Kapekonahalli village in Hoskote taluk, was returning home after performing a special puja at the Madduramma temple. At around 12:10 pm, she boarded a bus from the Talagavara village bus stop and travelled towards Jangamakote Cross via H Cross.
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While she was alighting from the bus, an unknown woman allegedly pushed her forcefully from behind. Police said that after boarding another bus, the victim opened her bag to take out a water bottle and noticed that the box containing her gold ornaments was missing.
A case was registered at Sidlaghatta Rural Police Station under Crime No. 263/2025 and Section 303(1) (theft) of the Bharatiya Nyaya Sanhita (BNS). The value of the stolen jewellery was initially estimated at ₹22 lakh.
Considering the seriousness of the case, a special investigation team was formed under the supervision of the Circle Police Inspector. Acting on credible information, the team arrested the accused and recovered 240 grams of gold ornaments, police said, adding that the recovered gold is valued at approximately ₹30 lakh based on current market rates.
