Trump Announces 25% Tariff on Countries Buying Venezuelan Oil
President Donald Trump announced on Monday that any country purchasing oil or gas from Venezuela will face a 25% tariff on trade with the United States. He claimed Venezuela has been “very hostile” to the U.S. and accused the country of deliberately sending criminals and gang members, including Tren de Aragua, into the country. The tariff is set to take effect on April 2nd, which Trump called “LIBERATION DAY IN AMERICA.”
The decision follows Trump's previous moves to increase pressure on Venezuelan President Nicolás Maduro. He recently vowed to reverse a Biden-era decision allowing Chevron to operate in Venezuela, though he reportedly discussed extending the company’s license in a meeting with oil executives. Meanwhile, U.S. crude oil prices rose slightly following the announcement, but markets showed little immediate reaction to the new policy.
