Trump to impose 25-percent tariffs on countries that buy oil from Venezuela
US President Donald Trump has announced that any country that purchases oil or gas from Venezuela will face a 25-percent tariff in its trade with the United States, starting on April 2.
The latest tariff threat came in a Truth Social post on Monday morning, in which Trump assailed Venezuela for spurring migration to the US. He also criticised its government, led by President Nicolas Maduro.
“Venezuela has been very hostile to the United States and the Freedoms which we espouse,” Trump wrote.
“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 tariff appears designed not only to strike a blow against Venezuela but also against China, the US’s main economic rival and the largest consumer of Venezuelan energy products.
Later, at a White House cabinet meeting, Trump said he would also place tariffs on pharmaceuticals, automobiles and aluminium.
Already, on April 2, US trading partners are bracing for what Trump has termed “reciprocal tariffs” — import duties that seek to match what other countries impose on US products.
“What is so exciting is April 2 is just around the corner. And that’s American liberation day. That’s the day when the rest of the world starts to treat America with respect,” Commerce Secretary Howard Lutnick said at the cabinet meeting, echoing sentiments Trump has expressed in the past.
Lutnick added that April 2 would also mark the launch of the External Revenue Service, a new agency whose job will be to collect tariffs and other import taxes.
Critics, however, have pointed out that US Customs and Border Protection — under the Department of Homeland Security — already collects and processes tariffs on behalf of the federal government.
