Impact of U.S. Tariff Threat on China’s Oil Trade with Venezuela
China’s oil trade with Venezuela has stalled due to Trump’s proposed tariff on Venezuelan oil buyers, effective April 2025. Chinese traders are waiting for guidance from Beijing, while the Chinese government opposes U.S. sanctions, calling them interference. Experts believe traders might continue purchases despite uncertainty.
The trade of oil between China and Venezuela has significantly slowed following U.S. President Donald Trump’s announcement of a 25% tariff on goods from countries purchasing oil from Venezuela, which is set to take effect on April 2, 2025. Due to this development, Chinese traders are hesitant about engaging in oil purchases until they receive clearer guidelines from the Chinese government.
Guo Jiakun, Spokesperson for the Chinese Foreign Ministry, articulated that China strongly opposes unilateral sanctions imposed by the United States, asserting that such measures represent unwarranted interference in China’s internal affairs. Industry experts suggest that, without intervention from Beijing, Chinese buyers may seek alternative methods to continue their acquisition of Venezuelan oil amidst the prevailing uncertainty.
In conclusion, the imposition of a potential tariff by the United States has created a climate of uncertainty regarding China’s oil imports from Venezuela. The Chinese government has expressed its opposition to U.S. sanctions, and industry insiders indicate that China’s traders might persist in their purchasing efforts unless directed otherwise. The situation underscores the complexities of international trade relations and geopolitical tensions.
Original Source: san.com
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