Trump says China and other countries trading with Iran to face additional 25% tariffs

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US President Donald Trump announced on January 12, 2026, sweeping new tariffs targeting nations maintaining commercial ties with Iran.China is Iran’s largest trading partner, accounting for roughly 30 per cent of the country’s total foreign trade and 90 per cent of its shipped oil exports. Russia and India follow at a distance. Trump’s move comes as Iran continues to be rocked by widespread unrest that has reportedly left hundreds dead.