Trump Sets Process for Iran Tariffs But Does Not Apply Them

President Donald Trump enabled his administration to apply tariffs on goods from countries doing business with Iran, but stopped short of immediately imposing any new duties.

An executive order that Trump signed Friday said that the levy “may be imposed on goods imported into the United States that are products of any country that directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran.”

Trump first threatened the duty on social media in mid-January, saying it would be effective immediately. But no paper was ever issued codifying the policy until Friday. The action has the potential ...