Pres. Trump: Any country doing business with Iran will pay 25% on all business done with U.S.

Summary

President Trump posted that any country doing business with Iran will pay a 25% tariff on all business with the U.S. The Closing Bell Overtime host explains that China is the most relevant target because it is Iran's largest trading partner, and warns this could affect hundreds of billions of dollars of Chinese goods entering the U.S. He flags China ETFs including FXI as vehicles to watch, while also noting a small uptick in crude oil.

• Trump announced a 25% tariff on countries doing business with Iran.
• The host says China is Iran's biggest trade partner and would be most affected.
• He questions whether the tariff will hit hundreds of billions of Chinese goods and U.S. consumer prices.
• FXI and KraneShares are mentioned as China ETFs to watch.
• Crude oil was noted as up slightly after the headline.
• Russia is mentioned as doing business with Iran but dismissed as less relevant to U.S. trade.