Trump to enforce 25% tariff on nations importing Venezuelan oil and gas

US President Donald Trump announced on Monday that countries purchasing oil or gas from Venezuela will face a 25 per cent tariff on any trade conducted with the United States.  

 

This measure, described as a "secondary tariff," is set to take effect on April 2, according to a post on Trump's Truth Social account. He justified the decision by claiming that Venezuela has sent "tens of thousands" of individuals to the US with a "very violent nature."   

In his post on Truth Social, Trump said, "We are in the process of returning them to Venezuela — It is a big task! In addition, Venezuela has been very hostile to the United States and the Freedoms which we espouse. Therefore, any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country. All documentation will be signed and registered, and the Tariff will take place on April 2nd, 2025, LIBERATION DAY IN AMERICA. Please let this notification serve to represent that the Department of Homeland Security, Border Patrol, and all other Law Enforcement Agencies within our Country have been so notified."

 

Earlier in March, Trump ordered a 30-day phase-out of a licence that had allowed Chevron to continue operating in Venezuela and exporting its oil since 2022. The move followed his accusations that Venezuelan President Nicolás Maduro had failed to make sufficient progress on electoral reforms and the return of migrants.

 

Tariffs on automobiles, aluminium & pharmaceuticals

 

Meanwhile, Trump also announced on Monday that he will soon introduce tariffs on automobiles, aluminium, and pharmaceuticals.