Trump announced a 25 percent tariff on any country purchasing oil from Venezuela, with unverified claims of criminal infiltration into the US.
United States: President Donald Trump announced plans to impose a 25 percent tariff on any country that buys oil from Venezuela.
Trump shared this decision on Truth Social, stating that Venezuela has been hostile toward the United States and its values. He said any nation purchasing Venezuelan oil or gas will face a 25 percent tariff on their trade with the US.
Without providing evidence, Trump also accused Venezuela of deliberately sending criminals, including violent gang members from Tren de Aragua, to the US, according to CNN.
This announcement follows reports that Trump will delay other tariffs, such as a 25 percent charge on imported pharmaceuticals, cars, and lumber. Those tariffs were originally set to begin on April 2, which Trump refers to as “liberation day.” On that same day, he plans to impose the new tariffs on Venezuelan oil buyers.
Despite Trump’s latest remarks, financial markets saw gains on Monday.
Venezuela was among the top foreign oil suppliers to the US in 2024, providing USD 5.6 billion worth of oil and gas. The Biden administration had temporarily lifted sanctions on Venezuelan oil in 2023 but reinstated them in April 2024, accusing Venezuelan President Nicolás Maduro of not conducting fair elections.
Although sanctions were reimposed, Venezuelan oil still reaches the US through Chevron’s joint venture. Chevron’s license was initially set to expire on April 3, but after discussions between Trump and Chevron CEO Mike Wirth, the Treasury Department extended the license to May 27.
Trump’s administration previously cited Venezuela’s refusal to accept deported migrants, including those allegedly linked to Tren de Aragua, as a reason for the sanctions. Recently, Venezuela agreed to restart repatriation flights, receiving 200 deportees on Monday. Some families of the deportees have denied their involvement in any crimes, as per reports by CNN.
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