On Monday, President Donald Trump announced that the United States will impose a 25% tariff on any country purchasing oil or gas from Venezuela. This decision is part of Trump’s ongoing efforts to apply economic pressure on Venezuelan authorities and target countries involved in the trade.
Since taking office in January, Trump has applied tariffs on both allies and adversaries, using these measures as tools to shape both economic and diplomatic outcomes. In a post on his Truth Social network, Trump expressed his strong stance, stating that Venezuela has been “very hostile to the United States and the freedoms we stand for.”
As a result, he declared, “Any country that buys oil and/or gas from Venezuela will face a 25% tariff on trade with the U.S.”
This new tariff could significantly affect countries like China, which purchased 68% of Venezuela’s oil exports in 2023, according to a 2024 report by the U.S. Energy Information Administration. Other countries such as Spain, Russia, Singapore, and Vietnam also import oil from Venezuela.
In January, the U.S. imported 8.6 million barrels of oil from Venezuela, according to the Census Bureau.
This tariff announcement comes amid a stalled deportation agreement between the U.S. and Venezuela. Last month, Trump suspended deportations after Venezuela failed to uphold an agreement to quickly accept deported migrants. In response, Venezuela refused to accept the flights. However, the two countries reached a new deal on Saturday to resume repatriations, which led to the deportation of nearly 200 Venezuelan nationals via Honduras.
The agreement followed a controversial move by the U.S. on March 16, when over 200 Venezuelans, suspected members of the Tren de Aragua gang, were sent to a maximum-security prison in El Salvador. Trump invoked wartime powers to expel the alleged gang members.
Trump also outlined his reasoning for the new tariffs, claiming that Venezuela has “deceptively” sent criminals into the U.S., including high-level offenders. “All documentation will be signed and registered, and the tariff will take effect on April 2, 2025, LIBERATION DAY IN AMERICA,” Trump wrote.
The special designation of “Liberation Day” refers to a day when Trump plans to impose retaliatory tariffs on U.S. trading partners to address trade imbalances and unfair practices.
In the past, Trump has already implemented tariffs on countries like China, Canada, and Mexico, citing trade imbalances and issues such as the flow of fentanyl into the U.S.
This move follows a recent decision by the U.S. government to order energy giant Chevron to cease its operations in Venezuela by the end of the month, further tightening the economic pressure on the country’s government.
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