Trump Announces New Tariffs Targeting Venezuela and Its Oil Trade Partners
On March 24, President Donald Trump declared he would impose a 25% tariff on all imports from any nation that purchases oil or gas from Venezuela, along with additional tariffs specifically targeting the South American country.
In a post on Truth Social, Trump criticized Venezuela for being “very hostile” towards the United States and stated that countries buying oil from Venezuela would incur the tariff on all their trade with the U.S., effective April 2.
He also mentioned that Venezuela would face a “secondary” tariff due to its association with the gang Tren de Aragua. The Trump administration is currently deporting immigrants it alleges are members of this gang who entered the U.S. unlawfully.
This latest tariff announcement signals a potential escalation in the administration’s stance against China, Venezuela’s largest foreign buyer. The Trump administration has previously enacted universal 20% tariffs on imports from China in an effort to combat the illegal fentanyl trade.
