The US runs a sizeable surplus with Iran. In 2024, the US exported $90.2 million worth of goods to Iran and imported just $6.2 million, leaving an $84 million surplus. The trade figures are available until October 2025
Stepping up pressure on Iran as the West Asian country grapples with nationwide economic unrest threatening decades-long Ayatollah regime, US President Donald Trump on Monday announced a punitive measure to stifle Tehran’s economy. He said any country trading with Iran will face a 25 per cent tariff on its business with the US.
This comes as Trump weighs his options amid building momentum for a strong US response to mass anti-government protests that have swept Iran in recent weeks.
“Effective immediately, any country doing business with the Islamic Republic of Iran will pay a Tariff of 25 per cent on any and all business being done with the United States of America,” Trump said in a post on Truth Social.
Tariffs are paid by US importers of goods from those countries. Iran, an Opec member, has long faced heavy US sanctions. Most of its oil goes to China, while Turkey, Iraq, the United Arab Emirates and India remain its other top trading partners.
“This order is final and conclusive,” Trump said without providing any further detail.
US maintains a strong surplus with Iran
While America’s trade with Iran is small, Washington runs a sizeable surplus, the
US government data shows. In 2024, the US exported $90.2 million worth of goods to Iran and imported just $6.2 million, leaving an $84 million surplus.
By October 2025, exports stood at $47.9 million against $1.3 million in imports. US shipments are dominated by medical supplies such as packaged medicaments, X-ray equipment and orthopedic devices, while imports largely comprise brochures, paintings, newspapers and other works of art.
What’s happening in Iran?
Iran is facing its biggest anti-government protests in years after a 12-day war with US ally Israel last year and US air strikes on its nuclear sites in June.
Demonstrations evolved from complaints about dire economic hardships to defiant calls for the fall of the deeply entrenched clerical establishment. US-based rights group HRANA said it had confirmed 599 deaths since the unrest began on December 28, including 510 protesters and 89 security forces.
Trump’s Iran case is not the first
Trump has proposed a 500 per cent tariff on countries dependent on Russian energy, even though the United States was among the biggest importers of Russian uranium in 2024.
In 2024, the
United States imported goods worth more than $3 billion from Russia and ran a trade deficit of about $2.4 billion.
US exports were dominated by medical supplies such as vaccines, blood products, antisera, toxins, cultures, medical instruments and X-ray equipment, while imports mainly included uranium, platinum, plywood, radioactive chemicals and fertilizers.
And by October 2025, US exports stood at $3.4 billion against $494 million in imports.
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