WASHINGTON: President Donald Trump declared a 25% tariff on countries purchasing Venezuelan oil, citing national security concerns.
New Trade Policy
Trump made the announcement on Truth Social, saying Venezuela has been “hostile” to American values and security.
The tariff, labeled a “Secondary Tariff,” will apply to all trade with the U.S. involving Venezuelan oil or gas.
He accused Venezuela of deliberately sending criminals, including violent gang members, into the United States.
Trump said Venezuela’s actions justified strong economic penalties against the country and its global oil trade partners.
Tariff Implementation
The tariff will take effect on April 2, 2025, a date Trump refers to as “Liberation Day in America.”
All required documents will be signed, and U.S. agencies have been officially informed, he said.
The Department of Homeland Security, Border Patrol, and law enforcement have been notified about the measure.
Trump warned that any country buying oil from Venezuela will face financial consequences when trading with the U.S.
He claimed the move would protect national security and hold Venezuela accountable for alleged criminal activities.
Security Concerns
Trump accused Venezuela of secretly sending criminals, including members of the Tren de Aragua gang, to the U.S.
He stated the gang has been classified as a “Foreign Terrorist Organization” and is being deported.
Trump emphasized that returning these criminals is a major but necessary operation.
His administration believes economic measures will pressure Venezuela into changing its policies.
Other Tariff Delays
This decision follows reports that Trump is delaying other planned tariffs on cars, lumber, and pharmaceuticals.
Those tariffs were originally scheduled for April 2 but have been postponed.
Instead, Trump plans to announce new reciprocal tariffs on other countries that day.
Markets reacted positively on Monday, showing little concern over Trump’s latest tariff threat.
The financial sector remains largely unaffected by the new trade policy.
Venezuela’s Oil Trade
Venezuela was among the top oil suppliers to the U.S. in 2024, according to trade data.
The U.S. imported $5.6 billion worth of Venezuelan oil and gas last year.
The tariff could impact global oil prices and trade relations with countries reliant on Venezuelan crude.
Observers say the policy may strain diplomatic ties while reshaping the energy market.
It remains unclear how affected nations will respond to the tariff.
