Trump Signs Order Threatening Tariffs on Nations Doing Business With Iran

President Donald Trump signed an executive order on Friday that may impose a 25% tariff on countries that do business with Iran.

The order comes as tensions between Iran and U.S. continue to simmer.

This, even as the two countries engaged in talks this week involving, among other things, Iran's nuclear program.

Specifically, the executive order signed by President Donald Trump reaffirms the existing national emergency with respect to Iran and establishes a framework allowing the United States to impose tariffs on countries that purchase or otherwise do business with Iran, according to a White House fact sheet.

The White House said the order authorizes the U.S. government to impose additional tariffs on imports from any country that directly or indirectly acquires goods or services from Iran, citing national security and foreign policy concerns tied to Tehran’s nuclear program, regional activity, and support for terrorism.

According to the White House, the order does not immediately impose new tariffs but creates a legal process under which tariffs may be applied or adjusted at the president’s discretion.

The fact sheet states the president may modify or lift tariffs if affected countries retaliate or if Iran or its trading partners take steps to align with U.S. national security and foreign policy objectives.

The White House said the executive order directs the Secretary of State, the Secretary of Commerce, and the U.S. Trade Representative to issue rules and guidance necessary to implement the tariff system and related enforcement measures.

Newsmax contributed to this report.