Washington, DC/Caracas: U.S. President Donald Trump announced on Monday that any country purchasing oil or gas from Venezuela will face a 25% tariff on trade transactions with the United States.
This “secondary tariff” is set to take effect on April 2, according to Trump’s post on Truth Social. The decision, he stated, is driven by concerns over Venezuela allegedly sending “tens of thousands” of individuals with a “very violent nature” into the United States.
Earlier this month, Trump mandated a 30-day wind-down period for a license previously granted to Chevron (CVX.N) in 2022, which had allowed the company to operate in sanctioned Venezuela and export its oil. The move comes after Trump accused Venezuelan President Nicolas Maduro of failing to advance electoral reforms and repatriate migrants.
Additionally, Trump invoked the 1798 Alien Enemies Act to justify the deportation of suspected members of the Venezuelan gang Tren de Aragua, even in cases where individuals lack final removal orders from immigration judges.
China, already a primary target of U.S. tariffs, is the largest buyer of Venezuelan oil, the South American nation’s main export. In February alone, China received approximately 503,000 barrels per day (bpd) of Venezuelan crude and fuel—accounting for 55% of Venezuela’s total oil exports.
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Previous U.S. tariffs on certain types of Venezuelan oil resulted in a decline in Chinese imports, forcing Venezuela’s state-run oil company PDVSA to offer steeper price discounts to retain its most critical market.
Other major consumers of Venezuelan oil include Spain, Italy, Cuba, and India. With the wind-down period for U.S. imports set to expire in early April, a potential extension remains uncertain.
The Venezuelan government, led by Maduro, has yet to respond to the tariff announcement.
