US President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States.
This “secondary tariff” will take effect on April 2, Trump said in a Truth Social post. Trump said he is imposing the move because he said Venezuela has sent “tens of thousands” of people to the United States who have a “very violent nature.”
Earlier this month, Trump issued a 30-day wind down of a license that the US had granted to Chevron CVX.N since 2022 to operate in sanctioned Venezuela and export its oil after he accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns.
China largest buyer of Venezuelan oil
China, which has already been the subject of US tariffs, is the largest buyer of Venezuela’s oil, the OPEC member’s main export. In February, China received directly and indirectly some 503,000 barrels per day (BPD) of Venezuelan crude and fuel, which represented 55% of total exports.
Spain, Italy, Cuba, and India are other consumers of Venezuelan oil. US imports of oil are set to end in early April unless Trump extends the wind-down.
There was no immediate response from Maduro‘s government to a request for comment.
Trump earlier this month invoked the 1798 Alien Enemies Act to justify the deportation of alleged members of Venezuelan gang Tren de Aragua without final removal orders from immigration judges.
This article was originally published at www.jpost.com
