Trump imposes 25% tariffs on countries doing business with Iran 'effective immediately'

President Donald Trump said countries that do business with Iran will face a new 25% tariff. The announcement appears to mean goods from China, a major trading partner of both Iran and the United States, would become significantly more expensive to import.

"Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America," Trump wrote on Truth Social on Monday. "This Order is final and conclusive," he added.

The White House declined to share additional information on the tariff and how the Trump administration plans to implement it, referring CNN to the president's post...