Armenia faces possible 25% tariffs from US over trade with Iran

By Arshaluys Barseghyan

OC Media

On Monday, US President Donald Trump announced imposing a new 25% tariff on ‘any Country doing business with’ Iran amid the ongoing, widespread anti-government protests in the country.

‘Effective immediately, any Country doing business’ with Iran will pay a 25% tariff ‘on any and all business being done’ with the US, Trump said on Truth Social.

‘This Order is final and conclusive’, Trump said.

Trump’s decision on tariffs came amid widespread anti‑government protests in Iran since late December 2025, with limited information emerging due to internet and mobile network shutdowns. There are reports of a crackdown on demonstrators, resulting in hundreds of deaths and thousands of arrests.

Amid the protests and use of force against demonstrators, the US publicly warned Tehran against further lethal force, with Trump threatening US intervention.

Armenia, which signed a Strategic Partnership with the US in 2024 and also enjoys good ties with neighboring Iran, will likely be affected by the newly imposed tariffs.

The Armenian Economy Ministry declined to comment to OC Media on whether Armenia has been officially notified about the tariffs, suggesting inquiries be directed to the Foreign Ministry. OC Media has reached out to the Foreign Ministry and is awaiting a response.

The Economy Ministry also refrained from commenting on the potential impact on the Armenian economy.

However, economist Haykaz Fanyan has predicted a moderate impact on the Armenian economy.

In a Facebook post on Tuesday, Fanyan cited US data suggesting that in 2024 around $129 million worth of goods of Armenian origin were imported into the US, ‘two-thirds of which were precious stones and jewelry’.

‘I don’t know how serious this threat is, but its impact on Armenia’s economy will be negative [but not significant]’, Fanyan wrote.

Both the US and Iran enjoy large trade surpluses with Armenia, with Armenia  importing more than exporting to those countries.

According to data from the Armenian Statistical Committee, in 2025 Armenia’s exports to the US amounted to $46 million, while imports — based on countries of origin — totaled $269 million.

By contrast, trade with Iran was significantly higher: exports reached $83 million, and imports, based on the country of origin of products, amounted to $615 million.

However, neither accounts for a significant proportion of the country’s exports, making up just 0.5% and 0.8% of the total respectively.

Previously, in April 2025, the US imposed a 10% tax on goods imported from Armenia, Azerbaijan, and Georgia as part of sweeping new tariffs on almost every country in the world.