Trump Vows Tariffs on Iran's Trade Partners, Yen Falls to Two-Year Low | The Opening Trade 1/13/2026

Here is a 183-word summary of the news article: President Donald Trump has announced new tariffs on goods from countries trading with Iran, a move that risks disrupting his one-year trade truce with China, the world's top buyer of Iranian oil. The news had a significant impact on Japan, where stocks rose and government bond yields surged on speculation that Prime Minister Sanae Takaichi might call a snap election. The Japanese yen fell to a two-year low against the US dollar. Defense and nuclear stocks also saw gains in what is being called the "Takaichi trade," which has contributed to equity gains, bond losses, and a weakening currency. The article is part of The Opening Trade, a Bloomberg program that provides analysis and commentary as markets open across Europe. Hosted by Anna Edwards, Guy Johnson, and Tom Mackenzie, the program aims to break down the biggest stories of the day and speak to top guests with a stake in the markets.