On Monday, former U.S. President Donald Trump declared on his social media platform, Truth Social, his intention to impose a 25% tariff on countries that procure oil or gas from Venezuela. Trump defended this decision by accusing Nicolás Maduro's regime of deliberately and deceptively sending tens of thousands of criminals to the United States, including members of the Tren de Aragua, a group labeled as a "Foreign Terrorist Organization."
"We are in the process of sending them back to Venezuela. It's a tremendous task!" Trump stated. He further described the Venezuelan government as "very hostile" toward the United States and its cherished freedoms.
Trump detailed that any nation purchasing oil or gas from Venezuela would face a 25% tariff on all trade conducted with the United States. He announced that all necessary documentation would be signed and registered, with the tariff set to take effect on April 2, 2025, dubbed as "America's Liberation Day."
This announcement occurs amid escalating tensions between the two nations. Earlier in February, Venezuela and the United States reached an agreement regarding the deportation of Venezuelan migrants, with Caracas agreeing to accept all repatriated individuals. However, complications have arisen over the past few weeks, with Maduro's administration refusing to accept certain deportation flights. This has prompted Trump's administration to warn of severe sanctions should Venezuela fail to adhere to the agreed terms.
One such sanction includes revoking the "concessions" previously granted by former President Joe Biden to Maduro's regime concerning oil transactions and electoral conditions, initially signed on November 26, 2022.
The U.S. government has also accused the Venezuelan regime of misleading about the execution of repatriation flights for citizens deported from the United States. As a result, many deported Venezuelan migrants, identified by the White House as members of the Tren de Aragua, have been redirected to flights bound for Guantanamo Bay and El Salvador, a nation that has agreed to receive and imprison them in a maximum-security facility.
Trump's proposed measure would directly affect countries like China, India, and several Latin American allies, which have continued to purchase Venezuelan oil despite U.S. sanctions.
Impact of U.S. Tariffs on Venezuelan Oil Trade
Why is Trump imposing a 25% tariff on countries buying Venezuelan oil?
Trump's decision is driven by accusations against Nicolás Maduro's regime for sending criminals to the U.S., and as a response to what he describes as Venezuela's hostility toward American values and freedoms.
Which countries will be affected by this tariff?
Countries like China, India, and some Latin American allies that continue to purchase Venezuelan oil will be directly affected by the 25% tariff.
When will the tariff come into effect?
The tariff is scheduled to take effect on April 2, 2025, which Trump refers to as "America's Liberation Day."