US President Trump is weighing further tariffs and potential military options against Iran, amid the country’s largest protests since 1979.

The administration has already imposed duties of up to 50 percent on Indian goods linked to its Russian oil purchases, while a proposed 25 percent tariff on Chinese imports threatens the fragile US–China trade truce.

China, a major buyer of Iranian crude, has been increasing imports through independent refiners, adding pressure to global oil markets.

Trump’s ability to impose new tariffs hinges on an impending US Supreme Court decision on the legality of his global duties.

A ruling against him could limit his capacity to target Iran’s trade partners swiftly.

Meanwhile, Iran faces unprecedented domestic unrest. Economic hardship, triggered by a currency crisis, has escalated into widespread anti-regime protests, with more than 500 reported deaths and over 10,000 arrests.

Trump has openly supported the demonstrators, warning Tehran against further repression and signaling that the US is considering a range of options, including targeted military action.

Diplomatic channels are tentatively opening: Iranian Foreign Minister Abbas Araghchi has contacted Trump’s Middle East envoy, Steve Witkoff.

However, tensions remain high. Any US or Israeli intervention could destabilize the region, threaten the Strait of Hormuz, and disrupt energy exports compounding the trade and market risks already posed by US tariffs and sanctions.

The unfolding crisis intertwines geopolitics, energy markets, and trade policy, with decisions over tariffs, sanctions, and potential military action likely to have global economic reverberations.