Trump Announces 25% Tariff on Nations Importing Venezuelan Oil and Gas

President Trump announced a 25% tariff on countries importing Venezuelan oil and gas, effective April 2, 2025. This ‘secondary tariff’ aims to address crime concerns associated with Venezuelan migrants and responds to Venezuela’s perceived hostility towards the U.S. The administration is also phasing out Chevron’s operations in Venezuela due to inadequate electoral reforms.

United States President Donald Trump declared on Monday that nations importing oil or gas from Venezuela will incur a 25% tariff on any associated trade with the United States. This tariff, referred to as a “secondary tariff,” is scheduled to be implemented on April 2, following a communication via Trump’s Truth Social account.

Trump attributed this decision to concerns regarding Venezuelan individuals entering the United States, whom he described as having a “very violent nature.” He mentioned efforts to repatriate these individuals back to Venezuela, characterizing it as a significant undertaking.

In his communication, Trump emphasized that Venezuela has exhibited hostility towards the United States and the freedoms it represents. He stated, “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.”

Additionally, earlier in March, Trump took steps to phase out a licence that permitted Chevron to operate in Venezuela and export its oil. This decision was made in light of allegations that Venezuelan President Nicolás Maduro had not achieved meaningful progress on crucial electoral reforms and migrant repatriation efforts.

In summary, President Trump’s announcement of a 25% tariff on nations importing Venezuelan oil and gas reflects his administration’s stance against Venezuela’s actions and aims to deter foreign engagement with the Venezuelan energy sector. The tariffs will take effect on April 2, 2025, marking a significant step in U.S. foreign trade policy concerning Venezuela.

Original Source: www.business-standard.com