Trump announces harsh 25% tariffs on nations purchasing Venezuelan oil

US President Donald Trump Monday announced a 25% tariff on imports from countries that purchase Venezuelan oil and gas, a move that could impact major economies such as China and India and intensify global trade tensions, AFP reported. 

Since returning to office in January, Trump has aggressively imposed tariffs on both allies and adversaries, using trade as a tool to influence diplomatic and economic policies. His latest measure, set to take effect on 2 April, targets direct and indirect buyers of Venezuelan oil.

According to an executive order signed Monday, the US Secretary of State will determine whether the levy applies to a particular country, in coordination with other federal agencies. The tariff would be in addition to existing duties, Trump confirmed.

Trade analysts note that Venezuela exports significant volumes of oil to China, the United States, and Spain. In February, Venezuela shipped 500,000 barrels per day to China and 240,000 barrels per day to the US.

Trump referred to 2 April as "Liberation Day" for the US economy, promising "reciprocal tariffs tailored to each trading partner" to counter what he describes as unfair trade practices.

In his Truth Social post, Trump cited "numerous reasons" for what he called a "secondary tariff." He accused Venezuela of “purposefully and deceitfully” sending criminals into the US and described the country as “very hostile to the United States and the Freedoms which we espouse.”

The tariff will expire one year after a country’s last recorded Venezuelan oil import—or earlier if Washington decides.

Trade and immigration tensions grow

The move comes amid heightened tensions between Washington and Caracas. Last month, the US-Venezuela deportation agreement was suspended after Trump accused the Venezuelan government of failing to uphold its commitments. Caracas then refused to accept deportation flights. However, on Saturday, Venezuela agreed to resume repatriation flights, resulting in nearly 200 Venezuelan migrants being deported via Honduras.

Meanwhile, the US extended a deadline for Chevron, allowing the American oil giant to continue operations in Venezuela until 27 May, under a sanctions waiver.

Uncertainty over other tariffs

Trump has promised additional sector-specific tariffs on automobiles, pharmaceuticals, and semiconductors, though the White House signalled that these may be implemented on a more targeted basis.

A White House official told AFP that the administration’s plans remain "fluid", adding that "reciprocal tariffs will take place", but industry-specific duties "may or may not happen on 2 April."

Despite his firm stance, Trump told reporters he might “give a lot of countries breaks”, without specifying which nations could be exempt. He also hinted that automobile tariffs would be announced “very shortly”, while levies on pharmaceuticals would come at a later date.

As trade tensions escalate, EU trade chief Maros Sefcovic is set to visit Washington on Tuesday for discussions with US Commerce Secretary Howard Lutnick and trade envoy Jamieson Greer.

Hopes of a more selective tariff rollout gave financial markets a temporary boost.

Meanwhile, US Treasury Secretary Scott Bessent suggested that only a small number of countries—roughly 15% of global trade partners—would face harsh tariffs. He described these nations as the “dirty 15”, due to their trade imbalances with the United States.