Former U.S. President Donald Trump has declared that any country purchasing oil or gas from Venezuela will face a 25% tariff on trade with the United States. The announcement was made on Monday (March 24) via his Truth Social platform, where he outlined the measure’s implementation date as April 2.
Trump’s Justification for the Tariff
Citing Venezuela’s “hostility” toward the U.S., Trump emphasized that the move was in response to the country’s stance against American values.
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“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.
Link to Security Concerns
The decision follows previous accusations from the Trump administration that Venezuela was sending members of the Tren de Aragua gang to the U.S. Washington DC has designated the gang as a terrorist organization, adding another layer of geopolitical tension to the decision.
Other Tariff Plans and ‘Liberation Day’
Trump’s announcement comes as reports suggest he is planning to postpone certain previously announced tariffs, including a 25% charge on imports of pharmaceuticals, cars, and lumber. These tariffs were initially scheduled to take effect on April 2—the same day he intends to introduce a new set of reciprocal tariffs, a date he has dubbed “Liberation Day.”
