Trump imposes 25 per cent tariffs on countries trading with Iran

A factsheet from the Department for Business and Trade states that Iran is the UK’s 115th largest trading partner, revealing: “Total trade in goods and services (exports plus imports) between the UK and Iran was £420 million in the four quarters to the end of Q2 2025, an increase of 8.0 per cent, or £31 million in current prices, from the four quarters to the end of Q2 2024.”

Exports from the UK to Iran include products such as beverages, tobacco, and travel services. Major imports from Iran include fruit and vegetables and insurance and pension services. 

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Commenting on X, Liu Pengyu, the spokesperson for the Chinese embassy in Washington, said Beijing would “take all necessary measures to safeguard its legitimate rights and interests”.

China is Iran’s biggest trading partner, buying 77 per cent of its oil exports in 2024.

Liu added: “Tariff wars and trade wars have no winners, and coercion and pressure cannot solve problems. Protectionism harms the interests of all parties.”

Since making the announcement, neither Trump nor anyone in his administration have revealed any further details of how the tariffs will work, such as whether humanitarian goods such as medicines would be exempt.

In March last year, Trump proposed a similar measure of imposing tariffs on countries trading with Venezuela, but the plan was never implemented.