Trump Announces New Tariffs on Buyers of Venezuelan Oil
Washington: US President Donald Trump declared on Monday that his administration would impose a 25% tariff on imports from countries purchasing oil and gas from Venezuela. The measure, set to take effect on April 2, is expected to impact major economies such as China and India, increasing global trade tensions.
Since returning to the White House in January, Trump has aggressively implemented tariffs on both allies and adversaries, using economic pressure as a diplomatic tool. Announcing the move on his Truth Social platform, Trump referred to April 2 as “Liberation Day” for the US economy, emphasizing that additional tariffs could be tailored for each trading partner to counter what Washington considers unfair trade practices.
Key Developments:
-
The US will impose a 25% tariff on countries importing Venezuelan oil starting April 2.
-
China and India are likely to be the most affected trading partners.
-
Trump justified the move by accusing Venezuela of sending criminals to the US and being hostile to American values.
-
The White House hinted at more sector-specific tariffs, including those targeting automobiles, pharmaceuticals, and semiconductors.
-
However, officials noted that these additional tariffs remain uncertain, with final decisions yet to be made.
Legal Challenge Over Venezuelan Migrants
Separately, a US judge ruled on Monday that Venezuelan migrants facing deportation under an obscure 18th-century law have the right to challenge their removal. The ruling blocks the Trump administration’s efforts to expedite deportations under the legal provision.
The new tariffs mark a significant escalation in Trump’s trade policies, potentially disrupting global markets and straining diplomatic relations, particularly with China and India. The move reflects his broader strategy of using economic pressure to influence international affairs, but its long-term effects remain uncertain. Meanwhile, legal challenges continue to complicate the administration’s stance on Venezuelan migrants, highlighting ongoing tensions between Trump’s policies and judicial oversight.
