Trump has pledged tariffs of 10% on global imports, 60% on Chinese goods and a 25% import surcharge on Canadian and Mexican products, duties that may upend trade flows, raise costs and draw retaliation.

President-elect Trump has expressed support for a negotiated solution with Iran on all outstanding issues, while Iranian President Masoud Pezeshkian has stated that Tehran is ready for constructive dialogue with the West about nuclear power and willingness to improve relations with the United States.