WASHINGTON: President Donald Trump announced Monday that the U.S. will impose a 25% tariff on imports from any country that buys oil or gas from Venezuela. He also said Venezuela itself will face additional trade penalties.
In a post on Truth Social, Trump accused Venezuela of being “very hostile” toward the U.S. and warned that any nation purchasing its oil will have to pay the new tariff on all their trade with the U.S. starting April 2.
Trump said Venezuela will also be hit with a separate “secondary” tariff due to its connection to the criminal gang Tren de Aragua. He claimed his administration is deporting gang members who entered the U.S. illegally.
The move could escalate tensions with China, Venezuela’s biggest oil customer. The Trump administration has already placed a 20% tariff on all imports from China, citing efforts to crack down on fentanyl trafficking.
During a Cabinet meeting on Monday, Trump told reporters that the Venezuela-related tariffs had been “a long time coming.” He also hinted at future tariffs on automobiles and pharmaceutical drugs, saying they would encourage more U.S. investment and manufacturing.–AP
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