Trump announces 25% tariff on countries importing Venezuelan oil
Washington, DC: US President Donald Trump announced on Monday that he would impose a 25 per cent tariff on any country purchasing oil or gas from Venezuela, escalating trade tensions with both adversaries and allies.
In a statement posted on his Truth Social platform, Trump said, “Venezuela has been very hostile to the United States and the Freedoms which we espouse. Therefore, any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country.”
The announcement is expected to impact major buyers of Venezuelan crude, particularly India, which emerged as the top importer of Venezuelan oil in late 2023 and early 2024. In 2024 alone, India imported 22 million barrels of Venezuelan crude, accounting for 1.5 per cent of its total oil imports.
Trump justified the tariff by alleging that Venezuela had “purposefully and deceitfully” sent criminals to the US, including members of the Tren de Aragua gang, which was recently designated as a Foreign Terrorist Organisation. “We are in the process of returning them to Venezuela – It is a big task!” he stated.
Trump confirmed that the tariff would take effect on April 2, 2025, calling it “LIBERATION DAY IN AMERICA.” The former president added that US agencies, including the Department of Homeland Security and Border Patrol, had been notified of the enforcement measures.
