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President Donald Trump said he would issue 25% duties on all imports from countries that continue to buy oil and gas from Venezuela, citing the presence of criminal gang members in the U.S.
“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. All documentation will be signed and registered, and the Tariff will take place on April 2nd, 2025, LIBERATION DAY IN AMERICA,” Trump said in a post on his Truth Social app.
The “secondary tariff” on nations buying oil and gas from Venezuela would coincide with the announcement of his so-called reciprocal tariffs, which are designed to equalize duties charged by trading partners. Those plans are still in flux, with multiple reports that the White House will likely not announce sector-specific tariffs on vehicles, pharmaceuticals, and semiconductors on April 2.
Venezuela’s oil exports rose 10.5% last year, according to Reuters. U.S.-sanctioned PDVSA and its joint ventures exported an average of 772,000 barrels per day in 2024, the most since 2019.
The U.S. was the second-largest export market last year. The Trump administration is also considering whether to extend Chevron’s (CVX-0.61%) license to pump oil in Venezuela by at least 60 days, Reuters reported last week, citing people familiar with the matter. Chevron CEO Mike Wirth and other oil company executives met with the president on Wednesday.
The potential tariffs could have a big effect on China, which was the largest export market for Venezuelan oil and gas last year. The U.S. has already implemented 20% tariffs on Chinese imports, while Beijing hit back with a series of retaliatory tariffs and actions targeting U.S. companies. Several European nations, as well as India and Cuba, also buy oil from Venezuela.
The move comes as Trump has sought to crack down on the Venezuela-based Tren de Aragua gang with measures that include deportations. A federal judge on Monday ruled that migrants must be allowed to challenge the decision to remove them.
“We are in the process of returning them to Venezuela — It is a big task! In addition, Venezuela has been very hostile to the United States and the Freedoms which we espouse,” Trump said.