Trump Proposes 25% Tariff on Countries Buying Venezuelan Oil
President Trump announced a 25% tariff on countries purchasing oil from Venezuela, citing security threats. He claimed Venezuela sends criminals to the U.S. The announcement coincides with potential delays on other tariffs. Despite these threats, markets remained unperturbed on Monday.
On Monday, President Donald Trump announced a 25% tariff on any nation that imports oil from Venezuela. He articulated that Venezuela has demonstrated hostility towards the United States and undermined freedoms upheld by the nation. Consequently, any country engaging in oil or gas trade with Venezuela will incur this tariff on their transactions with the United States.
Trump asserted, without presenting evidence, that Venezuela has intentionally dispatched criminals, including violent gang members such as those from Tren de Aragua, to the United States. This announcement arrives amidst reports indicating that Trump is preparing to postpone previously announced tariffs on imports, which included pharmaceuticals, cars, and lumber. These tariffs were scheduled to be implemented on April 2, coinciding with what Trump calls “liberation day,” on which he plans to unveil additional reciprocal tariffs against other nations.
The markets reacted positively on Monday, showing marked gains and appearing unaffected by Trump’s recent tariff threats. As this situation continues to unfold, updates will follow, highlighting any further developments.
In summary, President Trump has declared a significant 25% tariff on countries importing oil from Venezuela, citing national security concerns. Additionally, claims of Venezuela sending criminals to the United States were made without evidence. Amidst the backdrop of potential tariff delays on various imports, markets showed resilience to these announcements, marking a noteworthy reaction from investors as developments progress.
Original Source: www.wral.com
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