India’s aim to diversify trade via Iran faces US tariff threat

US President Donald Trump’s threat to impose 25 per cent tariffs on countries that do business with Iran has dented India’s ambition for the strategic Chabahar port and affected New Delhi’s trade with Tehran. Trump’s latest threat could curtail shipments of Indian basmati rice to Iran, but is likely to have a limited impact on India’s trade competitiveness since Iran accounts for about 0.3 per cent of its overall exports, according to analysts. Shipments of the rice, one of India’s biggest...