Iran is bracing for economic turmoil as the United States has imposed a 25% tariff on all goods imported from the country. The move comes as protests continue to rock the nation, with Iranian authorities accusing the West and the US of backing the demonstrations.
According to World Bank data, Iran exported goods worth $147 billion to 147 trading partners in 2022. Major trading partners include China, Iraq, United Arab Emirates, Turkey, and Germany. Crude oil, Iran’s largest export, is a significant target of the US tariff, while major imports include intermediate goods, vegetables, machinery, and equipment.
China, Iran’s largest trading partner, received $22 billion worth of Iranian exports in 2022, with over 50% comprised of oil. China also imported $15 billion worth of goods from Iran during the same period. A report by the data firm, Capita, indicates that China purchased over 80% of the oil shipped to it by Iranian vessels in 2025.
Meanwhile, India’s bilateral trade with Iran stood at $1.34 billion in the first 10 months of 2025, with major exports including basmati rice, fruits, vegetables, medicines, and other pharmaceutical products. Turkey and Germany also maintained significant trade with Iran, with exports and imports valued at $5.8 billion and $1.9 billion, respectively, in 2022.
However, the ongoing protests in Iran have led to a disruption in international calls and internet services. Iranian authorities have responded to US President Donald Trump’s call for Iranian protesters to maintain their demonstrations, with the Iranian Foreign Ministry issuing a statement condemning Trump’s comments.
The situation in Iran has been described as dire, with a World Bank report indicating that the country’s economy is on the brink of collapse. The report highlights the need for economic reforms and international cooperation to address the crisis.
In a separate development, the UK’s intelligence agency has expressed concerns about the safety of Pramod Jit Singh Pama, a leader of the Khalsa Referendum Campaign. The agency has warned that Pama faces a threat from Indian state agencies.
Russia has also condemned US threats to attack Iran, labeling them as “completely unacceptable.” Meanwhile, the Iranian military has vowed to defend its nation, with Iranian General Amir Hatami stating that the military is more capable than ever.
In the US, four more migrants have lost their lives in custody, bringing the total to six, with US immigration officials confirming the deaths.
In a separate development, the US has announced the establishment of a new missile defense system at the Al Udeid Air Base in Qatar. US President Donald Trump has urged Iranian protesters to continue their demonstrations, stating that the US acknowledges the legitimacy of their grievances regarding high taxes and energy prices.
