FINANCIAL CHRONICLE – President Donald Trump has announced that the United States will impose a 25 percent tariff on exports from countries that engage in trade with Iran. This decision has already impacted Sri Lanka’s tea industry, as prices have declined following the depreciation of the Iranian Riyal.
In a statement posted on Truthsocial.com, President Trump declared, “Effective immediately, any country conducting business with the Islamic Republic of Iran will incur a 25 percent tariff on all business transactions with the United States of America. This order is final and conclusive. Thank you for your attention to this matter!”
Iran has faced internal unrest, with hundreds of protesters reportedly killed amid the ongoing economic crisis, reminiscent of Sri Lanka’s own Aragalaya movement. The collapse of the Riyal has exacerbated inflation, heightening tensions within the country. Previously, President Trump had warned of potential repercussions if Iran’s government resorted to violence against protesters.
In Sri Lanka, tea prices at auctions have experienced a sharp decline this week, following a similar drop last week, according to traders. The country exports tea to Iran under a specific agreement that permits food exports despite existing sanctions. However, it remains uncertain whether President Trump’s recent order will affect such food exports. (Colombo/Jan13/2026)
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