World Business Report Trump's tariff on Iran's trading partners: What's at stake?
Jan 13, 2026
Chris Kennedy, GeoEconomics Statecraft Lead at Bloomberg Economics, discusses the implications of Trump's new tariffs on trading partners with Iran, especially China’s complicating role. Mohamed El-Erian, Chief Economist at Allianz, highlights the global support for Federal Reserve Chair Jay Powell amid concerns regarding central bank independence. Meanwhile, Kimberley Marshall, a North Carolina grandmother, shares her struggle with rising grocery costs, providing a personal glimpse into the impact of inflation on everyday life.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Target Iran's Trading Partners
- Trump's 25% tariffs target any country doing business with Iran and could hit major partners like China, the UAE and Turkey.
- This move risks destabilising the fragile US–China trade detente and raises global trade uncertainty.
Secondary Tariff Playbook Has Limits
- Bloomberg's Chris Kennedy warns secondary tariffs follow a known Trump playbook but enforcement has varied by case.
- China is the key complication and the US may avoid upsetting the current trade truce over Iran purchases.
Wait For Rule Details Before Reacting
- Watch for formal regulatory guidance before judging the tariffs' impact; implementation details will determine enforcement.
- Use trade and futures data, like soybean purchases and oil futures, to detect behavioural changes quickly.