How will the US trade sanctions on Iran affect Turkey?

US President Donald Trump has announced a new sanctions decision targeting countries that maintain commercial relations with Iran. In a statement on his social media account, Trump declared that countries doing business with Iran will be subject to a 25 percent customs duty on their trade with the US.

EMPHASIS ON "DEFINITIVE AND FINAL"

In his post, Trump stated that the implementation went into effect immediately and described the decision as "definitive and final." A detailed text of the decision regarding the matter has not yet been shared with the public by the White House.

IRAN'S MAJOR TRADING PARTNERS

According to the BBC, China is Iran's largest trading partner, followed by Iraq, the United Arab Emirates, Turkey, and India, in that order. The fact that Turkey is among the top five countries with which Iran trades has brought the potential effects on Ankara to the agenda following the announcement.

HOW MUCH WILL IT AFFECT TURKEY?

CNN Türk US Representative Yunus Paksoy, in an assessment on his social media account, pointed out that there is uncertainty regarding Turkey. Paksoy used the following expressions in his statement:

"We are one of Iran's largest trading partners. There was already a 15 percent additional tax on us. It is not yet clear whether 15 percent plus 25 percent will be applied to Turkey from now on, or if this tax will be applied to all countries that do not cut off trade with Iran as of today. The White House has not released the decision text."

News Source: 12punto