Trump’s action escalates economic pressure on Tehran amid weeks of widespread protests.
In a post on his Truth Social platform on Monday, Trump said the tariff was “effective immediately” and described the decision as “final and conclusive”.
“Any country doing business with the Islamic Republic of Iran will pay a tariff of 25 percent on any and all business being done with the United States of America,” he wrote.
The announcement signals a sharp expansion of Washington’s use of tariffs as a foreign policy tool, with potential consequences for several major US trading partners.
Nigeria could be exposed to potential spillovers from the proposed U.S. tariffs due to its growing trade relationship with Iran, particularly in non-oil commodities.
Recall that the Government of the Islamic Republic of Iran had said its trade deals with African countries, including Nigeria, have reached $1.2 billion in recent years.
Data previously reported by Nairametrics and information from Iranian trade officials, show that bilateral trade between both countries has expanded steadily in recent years.
Report in 2024 showed that Iran exported non-oil commodities valued at $46.5 million to Nigeria in the first seven months of 2023, underscoring Nigeria’s importance in Iran’s African trade strategy.
Trump said the tariff would apply to “any and all business” conducted with the United States by countries engaged commercially with Iran, though he did not provide details on the scope or enforcement of the policy.
Iran maintains trade ties with a number of countries, including India, Turkey, and China, raising concerns about possible disruptions to global trade flows.
The US president has already used similar measures against other countries, including imposing tariffs of up to 50 per cent on certain Indian goods linked to purchases of Russian oil.
Those levies came even as Washington and New Delhi had been negotiating a trade agreement aimed at reducing tariffs and strengthening bilateral ties.
The tariff announcement comes at a sensitive time for global trade and US foreign policy.
A broad application of duties on countries trading with Iran could strain relationships with key economic partners and introduce new uncertainty into already fragile trade negotiations.
Complicating the picture is a pending decision by the US Supreme Court on the legality of Trump’s global tariff powers.
A ruling against the president could limit his ability to rapidly impose such measures. The court’s next opinion day is scheduled for later day.
