Trump’s 25% Iran tariffs put Armenia’s economy in a tight spot
US President Donald Trump has introduced a 25% tariff on any country trading with Iran. The move follows rising tensions in the region and widespread protests inside Iran. Armenia, which maintains ties with both nations, now faces economic consequences from the new policy.
The tariff was announced amid anti-government demonstrations across Iran. Washington also warned Tehran against using lethal force against protesters, hinting at possible US intervention. The measure targets all business transactions with Iran, regardless of the country involved.
Armenia’s trade links with Iran are far stronger than those with the US. In 2024, it exported $83 million worth of goods to Iran while importing $615 million. By comparison, US imports from Armenia reached $129 million in 2024, mainly precious stones and jewellery. In 2025, Armenia’s exports to the US fell to $46 million, with imports rising to $269 million.
Neither the US nor Iran plays a major role in Armenia’s overall exports, accounting for just 0.5% and 0.8% respectively. However, economist Haykaz Fanyan expects the tariffs to have a moderate negative effect on Armenia’s economy. The country has not issued an official statement on the new US policy.
In August 2025, Armenia and Azerbaijan signed a peace agreement at the White House. The deal marked a diplomatic achievement but did not address the economic pressures now facing Armenia due to the Iran tariffs.
The 25% tariff will apply to all Armenian trade involving Iran. While the immediate economic impact may be limited, businesses in Armenia must now adjust to higher costs. The policy adds another challenge to the country’s already complex regional relationships.
