The United States will impose a 50 percent tariff on goods from countries that supply military weapons to Iran, effective immediately, President Donald Trump said in a Truth Social post on Wednesday.
“There will be no exclusions or exemptions!” Trump wrote, without naming specific countries that would be subject to tariffs. The White House has yet to release any official documentation of the fee as of Wednesday morning, and Trump did not indicate how the fee would be installed.
Earlier this year, the Supreme Court struck down Trump’s ability to unilaterally impose sweeping tariffs through the International Emergency Economic Powers Act, a statute the president has frequently used to enact tariffs.
“The post said this would be ‘immediately’, but it’s not clear how or under what authority/trade remedy. JEEP it’s not an easy threat to execute,” Pete Mento, director of global business advisory services at Baker Tilly, said in a LinkedIn post.
Trump has also previously threatened to slap a 25% tariff on goods from countries that “do business” with Iran, but that rate has yet to be officially documented.
Wednesday announcement — adding to a long list of tariffs Trump has imposed or threatened in his second term — it came the day after the US, Israel and Iran agreed to a two-week ceasefire. Since the U.S. and Israel launched military strikes on Iran on February 28, the Iran war has caused logistical challenges for supply chains and driven up fuel prices, putting pressure on rates and straining contract negotiations between shippers and carriers.
Trump said in a Truth Social post on Tuesday that the ceasefire was conditional on Iran agreeing to the full and immediate reopening of the Strait of Hormuz, a key shipping channel for oil.
The conditional reopening “will provide a welcome respite for global supply chains,” Karin Ström, Proxima’s vice president of logistics and supply chain, said in an emailed statement Wednesday. However, there is significant uncertainty about the situation in Iran and the Strait of Hormuz going forward, Ström added.
“Although 20% of the world’s marine oil and most of the [liquefied natural gas] of the region moving through the strait, many ships may not choose to return immediately, seeking further assurances about the safety of their cargo and crew,” Ström said.
Senior editor Phil Neuffer contributed reporting to this story.
