This means getting goods from other countries without paying tax to half the countries in between is no longer possible. It means no more business for any gulf country without paying Iran. It means no more business between EU and Asia without paying Spain and Morocco. It means ... Half the world's wars have been fought over that and the "way out" has been: as long as you use the seas, you get to do that, for free.
You see the problem, I hope?
Yes I get it, we all hate Trump, and this is "showing Trump" (not really, of all countries, the US is one of the least affected by this. This is especially horrible for Europe, especially specific European countries, most of Asia, most of South America and Russia)
Back to wars it is, I guess. This will rapidly deteriorate to the point where a great many countries are effectively unable to trade internationally.