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Dante Raeburn
Trump Imposes 25% Tariff on Countries Engaging with Venezuelan Oil and Gas
President Trump announced a 25% tariff on nations purchasing oil or gas from Venezuela, part of his broader trade strategy. This decision follows a call for Chevron to cease operations in Venezuela and targets countries like China, which heavily depend on Venezuelan oil. The tariffs, justified by claims of Venezuelan hostility towards the US, are set to take effect on April 2, 2025, coinciding with Trump’s proposed reciprocal tariffs against trading partners.
On Monday, President Donald Trump announced that any nation purchasing oil or gas from Venezuela would be subjected to a 25 percent tariff. This decision follows a directive to US energy company Chevron, which was ordered to cease its operations in Venezuela within a month. The tariff is part of a broader strategy encompassing tariffs against various trading partners.
Upon taking office in January, Trump has implemented tariffs on both allies and adversaries, seeking to influence economic and diplomatic policies through financial measures. He stated, “Venezuela has been very hostile to the United States and the Freedoms which we espouse.” Trump emphasized the consequence for countries engaging with Venezuela’s oil and gas sector, indicating that these countries must pay a tariff on their trade with the US.
The proposed tariffs are expected to significantly affect countries like China, which accounted for 68 percent of Venezuelan oil exports in 2023, according to the US Energy Information Administration. Other nations importing Venezuelan oil include Spain, Russia, Singapore, and Vietnam, with the US importing 8.6 million barrels of oil from Venezuela in January.
The US had previously suspended deportation flights to Venezuela, claiming the Venezuelan government failed to facilitate rapid repatriation of migrants. However, an agreement was recently reached for the resumption of these flights, resulting in the deportation of nearly 200 Venezuelans. This was preceded by the US expelling alleged gang members to El Salvador on March 16, utilizing wartime powers.
Trump reasoned that the tariffs would be implemented for “numerous reasons, including the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals.” The tariffs are scheduled to take effect on April 2, 2025, a date Trump has dubbed “LIBERATION DAY IN AMERICA,” purportedly aligning with his plans to impose reciprocal tariffs against trading partners.
In summary, President Trump’s imminent 25 percent tariff on countries importing oil or gas from Venezuela represents a strategic move linked to broader economic policies. This announcement aligns with recent directives to curtail US operations in Venezuela and reflects ongoing tensions regarding trade practices. As the situation develops, the impact on global trade dynamics and relations with nations reliant on Venezuelan energy resources remains significant.
Original Source: www.france24.com
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