US President Donald Trump has announced a 25% tariff on all trade with the US for any country trading with Iran, in a major escalation of his tariff policy following unrest in the Middle East country.
In a post on his Truth Social account, he said the order is “final and conclusive” and effective immediately.
The move will rock relations with China, which bought on average 1.38 million barrels per day of Iranian oil last year, although its LNG volumes were negligible as sanctions, lack of investment and infrastructure challenges have hindered Iran’s development of an export industry.
A spokesperson for the Chinese embassy in Washington stated that China “opposes any illicit unilateral sanctions and long-arm jurisdiction” and will take “all necessary measures” to protect its interests.
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