The issue of imposing 25 percent tariffs on countries trading with Iran will also be discussed during the visit of US Vice President JD Vance. Economy minister Gevorg Papoyan on Monday told this to reporters at the National Assembly of Armenia.

“We [i.e. Armenia] had exports of approximately $50 million last year with the US, and naturally, there are products there that will considerably lose their competitiveness if the tariff becomes 25 from 10 [percent]. But, at least I learned about it from the press, the Ministry of Economy [of Armenia] has not received anything [in that regard] from the US,” Papoyan said.

“Secondly, we will see how the implementation will be; naturally, discussions will be held with partner countries. All matters will be discussed with Vance. I assure you that there are more important and more interesting matters on the agenda. That is also important, but there are more important matters,” added the Armenian minister of economy.

US President Donald Trump, after negotiations with the Iranian side in Oman, signed an executive order on February 7 imposing additional US tariffs on countries doing business with Iran.

Neighboring Iran is Armenia’s fourth largest trading partner.