# Key Iran Trade Partners at Risk Amid Trump's 'Economic Warfare' *US President Donald Trump's declaration of 'economic warfare' against Iran poses significant risks to the country's main trade partners.* August 21, 2026 ยท World US President Donald Trump has pledged 'economic warfare' against Iran, threatening any country that continues to trade with the Islamic republic. This move follows months of escalating tensions between the US and Iran. Countries heavily involved in trade with Iran are now at risk of facing US sanctions. China is Iran's largest trading partner, with over a quarter of Iran's trade taking place with China. In 2024, Iran's exports to China amounted to $14.5 billion, while imports from China were valued at $18 billion. The trade primarily consists of hydrocarbons and chemical compounds from Iran, and industrial machinery, electronic equipment, cars, and metals from China. The United Arab Emirates (UAE) was another significant trading partner until it announced the suspension of all trade with Iran this week. In 2024, 30.6 percent of Iran's imports, valued at about $21 billion, came from the UAE. Iranian customs authorities reported $6.4 billion in exports to the UAE and $14.81 billion in imports from the UAE in the 10 months preceding January 2026. Turkey also has substantial trade with Iran. In the final 10 months of 2025, Iran imported $5.6 billion worth of goods from Turkey, while exporting $7.91 billion worth of goods, mostly hydrocarbon products, to Turkey. Russia's trade with Iran, though smaller, has been expanding, with $930 million in imports from Iran and $1.36 billion in exports to Iran in the last 10 months of 2025. Iran's trade with Iraq remains significant, with $7.91 billion in exports to Iraq in the last 10 months of 2025, compared to about $450 million in imports. Bilateral trade between India and Iran has drastically fallen from $17 billion in 2018-19 to $1.7 billion in 2024-25, though India continues to import about 276,000 barrels of oil per day from Iran. European countries like Germany are also affected, with German exports to Iran totalling 870.5 million euros ($1 billion) from January to November 2025. Imports from Iran were 217 million euros during that period. Other countries, including Sri Lanka, Japan, and the Philippines, have seen varying levels of trade with Iran, though official imports have been zero for some due to US sanctions. The implications of these trade disruptions are significant for Bangladesh, which has economic ties with both Iran and the US. The potential for increased instability in the region and shifts in global trade patterns could impact Bangladesh's export markets and import costs. Additionally, the blockade of the Strait of Hormuz and the resulting diversification of energy sources by countries like India could have ripple effects on global oil prices, affecting Bangladesh's economy. ## Sources - BSS --- Source: https://pulsetoday.com.bd/en/world/iran-trade-partners-risk-trump-economic-warfare