Trump Threatens 25% Tariff On Countries Buying Oil From Venezuela
United States President Donald Trump has announced plans to impose a 25% tariff on any country purchasing oil or gas from Venezuela. This proposal, revealed in a post on Truth Social, is part of the U.S. administration’s strategy to increase economic pressure on the South American nation.
Trump accused Venezuela of being hostile to the United States and claimed, without providing evidence, that the country had sent criminals, including gang members from groups such as Tren de Aragua, to the U.S. He further stated that any country that buys oil or gas from Venezuela would face a 25% tariff on all trade with the U.S.
“Venezuela has been very hostile to the United States and the Freedoms which we espouse. 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,” Trump wrote.
The proposed tariffs sparked strong backlash from both Venezuela and China. Venezuelan President Nicolás Maduro condemned the move, calling it “arbitrary, illegal, and desperate measures” aimed at undermining Venezuela’s sovereignty and economic development. He pointed out that economic sanctions had failed in the past to subdue the nation and that Venezuela had withstood them with dignity.
“For years, the fascist right, repudiated by the Venezuelan people, has promoted economic sanctions with the hope of bringing Venezuela to its knees. They failed because Venezuela is a sovereign country. After all, its people have resisted with dignity, and because the world no longer submits to any form of economic dictatorship,” Maduro’s government declared.
China, which is one of Venezuela’s top trading partners, also voiced opposition to Trump’s plan. A spokesperson for China’s Ministry of Foreign Affairs criticized the U.S. for interfering in Venezuela’s internal affairs and called for the removal of unilateral sanctions against the country.
If the tariffs are implemented, they could significantly affect U.S.-China trade relations, as the proposed measures could raise tariffs on Chinese goods to 45% and taxes on steel and aluminum to 70%.
Following Trump’s announcement, oil prices surged, with WTI futures at NYMEX rising 1.22% to $69.11 per barrel, and Brent futures at ICE increasing 1.16% to $73 per barrel. These are the highest prices recorded since March 3, although there was a slight pullback during Tuesday’s Asian trading session.
