China, others to suffer most from Iran-related US tariffs — expert

Business & Economy January 13, 17:18

"Iran’s major partners - the UAE, Turkey, India and Iraq - will be subject to this latest element of pressure from the United States when discussing terms of mutual trade," Boris Kopeikin said

MOSCOW, January 13. /TASS/. The introduction of 25% tariffs on countries that trade with Iran will not affect Russia, but will have an impact on China and some other countries, marking a new round in the trade standoff between Washington and Beijing, chief economist of the Stolypin Institute Boris Kopeikin told TASS.

US President Donald Trump earlier announced a 25% tariff on all countries doing business with Iran. According to the post on Truth Social, any country cooperating with Iran will pay the 25% tariff on any transactions made with the United States.

"Iran’s major partners - the UAE, Turkey, India and Iraq - will be subject to this latest element of pressure from the United States when discussing terms of mutual trade," the expert said.

Some countries from which Iran continues to import, such as Germany, will likely reduce direct supplies, but given the relatively small volumes, they will be rerouted through other countries, Kopeikin believes.

"Much will depend on details but this looks like the start of a new round in the trade standoff with China, which accounts for a notable chunk of Iranian exports and imports," the expert said.

Sanctions will not directly affect Russia, Kopeikin said. "In any case, our trade with the US is very small and these new restrictions for remaining supplies, such as fertilizers, are hardly in the interests of the United States proper," he added.

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