Iran's trading partners now face U.S. tariffs

U.S. President Donald Trump said any country that does business with Iran will face a tariff rate of 25% on any trade with the United States.

"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. This Order is final and conclusive," Trump said in a post on Truth Social.

Tariffs are paid by U.S. importers of goods from those countries. Iran, a member of the OPEC oil producing group, has been heavily sanctioned by Washington for years.

Earlier, the U.S. administration said they are not considering putting boots on the ground in Iran.