Trump to Impose 25% Tariffs on Nations Buying Venezuelan Oil

President Donald Trump stated on Monday that he will impose tariffs of 25% on any nation that purchases oil from Venezuela.
“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 said in a post on Truth Social.
Trump claimed, without providing evidence, that Venezuela has “purposefully and deceitfully” sent criminals, including violent individuals and members of gangs like Tren de Aragua, to the United States.
This news follows reports that Trump intends to delay previously announced tariffs, including those charging 25% on imports of pharmaceuticals, cars, and lumber. These tariffs were scheduled to take effect on April 2, the same day Trump said he will announce a number of reciprocal tariffs on other nations—a day he refers to as “liberation day.”
Markets opened significantly higher on Monday and appeared unfazed by Trump’s latest threats.
Venezuela was among the top foreign suppliers of oil to the US last year, according to Commerce Department trade data. In total, the US bought $5.6 billion of oil and gas from Venezuela in 2024.
However, Venezuelan oil and gas shipments trailed far behind America’s top source of foreign oil, Canada, which exported $106 billion of oil and gas to the US last year. Canada alone accounted for 60% of all oil and gas the US imported last year, while Venezuela accounted for 3%.