Mar 31, 2025
Doyoung Lim
US President Donald Trump posted he would announce an executive order to enforce 25% tariffs on countries that purchase Venezuelan oil and gas, which will be implemented on April 2nd.
Since Venezuela is one of the largest oil-producing countries in the world, concerns are being raised worldwide. This order widely affects reciprocal tariffs by pressuring Venezuelan President Nicolás Maduro, with China, the largest importer of Venezuelan oil and gas.
Trump referred to the new oil set as a “secondary sanctions”, aimed at arresting undocumented migrants from Venezuela, which is considered a huge international problem, especially in the US. “Venezuela has purposefully sent illegal migrants to the United States, causing a rise in tension among criminals,” he claimed.
According to Reuters, the largest importers of Venezuelan oil and gas are China, the US, Spain, Italy, India, and Cuba. Trump added,” Any countries that purchase oil or gas on any trade from Venezuela must pay a tariff of 25% on the United States.
This announcement is expected to have an enormous impact globally, including inflation, the relationship of other countries with the U.S. in political, trade, and economic areas.