U.S. Exports to Iran Decreased by Over 40% in the First Half of 2017

A recent report from the U.S. Census Bureau indicates that U.S. exports to Iran have dropped by more than 40% since Donald Trump's administration took office. However, the amount of imports from Iran to the U.S. has not shown significant changes. According to the statistics published on Friday, August 4, the value of U.S. exports to Iran in the first half of this year was $41.3 million, compared to approximately $72 million in the same period of 2016. The data shows that since Trump took office in January, U.S. exports to Iran decreased by 42.6% by the end of June. The new U.S. president has adopted a hardline approach towards Iran and is particularly critical of the Joint Comprehensive Plan of Action (JCPOA), which addressed Iran's nuclear program. Trump, who referred to the nuclear deal with Iran as 'the worst deal' during his 2016 presidential campaign, has stated that he will review this agreement. The U.S. Census Bureau report also indicates that the amount of imports from Iran to the U.S. in the first half of this year was $35.9 million, down from $37.3 million in the same period last year. These figures suggest that the trade balance between Iran and the U.S. in the first half of this year was $5.4 million in favor of the United States, compared to $34.7 million in favor of the U.S. in the same period last year. The U.S. primarily exports agricultural and medical products to Iran, while traditional Iranian exports to the U.S. include carpets and pistachios. The trade balance has consistently favored the U.S. since 2008, with a surplus of over $2.2 billion for the U.S. during Barack Obama's eight years in office. The types of goods exported from the U.S. to Iran have varied over the years. Although a significant portion of Iran's imports from the U.S. consists of 'intermediate and capital goods needed for various sectors such as industry, medicine, agriculture, livestock, and mining,' consumer goods are also imported from the U.S. According to ISNA news agency, in 2012, imported American consumer goods included butter, salmon, pineapple juice, dietary and medicinal supplements for humans, cosmetics for lips, eyes, and nails, makeup powders, shampoo, nails, jet skis, carousels, and circus swings. However, in 2014, Iran imported items such as dairy cows, butter, rice, various cooking oils, dietary and medicinal supplements, perfumes, cosmetics, and beauty products, shampoo, dental floss, nails, manicure and pedicure tools, refrigerators, freezers, computers, tablets, keyboards, lamps, and toothbrushes from the U.S. In this context, Iran banned the import of American consumer goods, while the import of cars from the U.S. remains permissible but is still halted. Donald Trump signed a congressional bill paving the way for sanctions against the Islamic Revolutionary Guard Corps. The European Union stated that all parties to the JCPOA have adhered to the nuclear agreement so far. China expressed opposition to the new U.S. sanctions against Iran, Russia, and North Korea.