Trump’s tariff plan on Venezuelan oil may hit India, China
US President Donald Trump announced 25 percent tariffs on countries buying Venezuelan oil and gas. This move could impact major economies like China and India and add to global trade uncertainty. The tariffs, targeting direct and indirect buyers, could take effect as early as April 2, according to an order Trump signed on Monday.
Since returning to the White House in January, Trump has used tariffs against allies and rivals to push his economic and diplomatic agenda. The secretary of state, with other US agencies, holds the authority to enforce the levy, potentially affecting major buyers like China and India.
Experts report that Venezuela exports oil to China, the United States, and Spain. In February, Venezuela supplied about 500,000 barrels of oil per day to China and 240,000 barrels to the US. Trump told reporters on Monday that the new tariff would add to existing rates.
Trump declared April 2 as “Liberation Day” for the US economy. He pledged reciprocal tariffs to counter what he calls unfair trade practices. Although he had hinted at sector-specific tariffs, the White House suggested a more focused approach on Monday.
On Truth Social, Trump justified the new measure, calling it a “secondary tariff” for “numerous reasons.” He accused Venezuela of sending “undercover” criminals to the United States. In his post, Trump wrote, “Venezuela has been very hostile to the United States and the Freedoms which we espouse.”
The 25 percent tariff will last for a year after a country last imports Venezuelan oil unless Washington lifts it earlier. Trump’s announcement follows the suspension of deportation flights between the US and Venezuela last month. Trump accused Caracas of failing to uphold an agreement to accept deported migrants. In response, Venezuela refused to resume deportation flights.
This new tariff policy could escalate trade tensions with major economies while reinforcing Trump’s hardline stance on Venezuela. As April 2 approaches, the global market watches closely for further developments.
