Trump pulls out old weapons to consolidate gains in Iran

Trump said in a post on Truth Social that any country found to be supplying weapons to Iran would be subject to an “immediate” levy, with no “exceptions or exemptions.” In doing so, the president is using his favorite “weapon” – tariffs – in an attempt to isolate Iran and prevent it from re-arming itself after the heavy damage caused to it by the US and Israel.

Trump’s announcement comes a little more than 12 hours after he announced a cease-fire agreement with Iran for two weeks subject to the opening of the Straits of Hormuz.

Trump even announced that “there will be no uranium enrichment” and that many of the 15 points in the US peace proposals have already been agreed upon. The US and Iran will discuss tariffs and sanctions relief, Trump added. According to various reports, the negotiations will begin this Friday in Pakistan, which took a significant part in the ceasefire efforts.

Trump’s announcement was received with great sympathy in the markets and led to sharp price increases and a drop in the price of oil below $100 per barrel.