US President Donald Trump announced an immediate 25% tariff on any country conducting business with Iran, citing the nation's violent crackdown on protests. This move escalates economic pressure on Tehran and could significantly impact major trading partners like China, India, Turkey, and the UAE. The announcement comes as the US administration considers various responses to the unrest in Iran, including diplomatic and potential military actions. India's trade with Iran, valued at approximately $1.68 billion in FY 2024-25, faces potential disruption, compounding existing trade tensions with the US.