US President Donald Trump announced on Monday that his administration will impose a 25% tariff on imports from countries that purchase Venezuelan oil and gas, in a move that could disrupt global trade and impact major economies like China and India.
Since returning to office in January, Trump has ramped up trade tariffs on allies and rivals alike, using them as a tool to influence both economic and diplomatic affairs.
The new levy—set to take effect from 2 April—will apply to both direct and indirect buyers of Venezuelan oil. According to an executive order signed Monday, the US Secretary of State will decide its application in coordination with other government agencies.
Trump confirmed that the 25% tariff will be in addition to existing duties. Trade analysts highlight that Venezuela exports substantial volumes of oil to China, India, the United States, and Spain. In February, China imported 500,000 barrels per day from Venezuela, while the US imported 240,000 barrels per day.
Calling 2 April "Liberation Day" for the US economy, Trump vowed to impose "reciprocal tariffs tailored to each trading partner" in response to what he considers unfair trade practices.
In a Truth Social post, he cited "numerous reasons" for what he called a "secondary tariff", accusing Venezuela of "purposefully and deceitfully" sending criminals into the United States. He added, "Venezuela has been very hostile to the United States and the Freedoms which we espouse."
Per Trump’s order, the tariff will expire one year after a country’s last purchase of Venezuelan oil—unless Washington lifts it sooner.
The announcement comes amid rising tensions between Washington and Caracas over immigration policy. The US suspended deportation flights to Venezuela last month, accusing the Maduro government of failing to meet repatriation agreements.
In response, Venezuela refused to accept deported migrants. However, an agreement reached on Saturday led to nearly 200 Venezuelan nationals being deported via Honduras.
At the same time, the Trump administration extended Chevron’s license to operate in Venezuela under a sanctions waiver, allowing the US oil giant to continue operations until 27 May.
Trump has also promised sweeping sector-specific tariffs on automobiles, pharmaceuticals, and semiconductors, though the White House suggests these may be applied more selectively.
A White House official told AFP that while "reciprocal tariffs will take place," the broader sector-based levies "may or may not happen on 2 April."
Trump hinted at potential exemptions, telling reporters, "I might give a lot of countries breaks," but did not elaborate. He also indicated that car tariffs would be announced “very shortly”, while duties on pharmaceuticals would come at a later date.
As the tariff deadline looms, EU trade chief Maros Sefcovic is set to meet with US Commerce Secretary Howard Lutnick and trade envoy Jamieson Greer on Tuesday to discuss potential exemptions.
Meanwhile, Treasury Secretary Scott Bessent stated that levies would focus on only about 15% of global trade partners, referring to them as the “dirty 15” due to their trade imbalances with the US.