Trump says any country buying Venezuelan oil will face a 25% tariff
On March 24, 2025, President Donald Trump announced that any country purchasing oil or gas from Venezuela will face a 25% tariff on their trade with the United States, effective April 2. This decision was communicated through a post on Truth Social, where Trump criticized Venezuela for its perceived hostility towards the U.S. and linked the tariff to concerns over crime and immigration associated with Venezuelan nationals.
The tariff is part of a broader strategy aimed primarily at China, the largest importer of Venezuelan oil, which accounted for approximately 68% of Venezuela’s oil exports in 2023. Other countries that could be affected include Spain, Brazil, and Turkey. The move is seen as an escalation in U.S.-Venezuela relations, particularly given that the U.S. itself imports oil from Venezuela—8.6 million barrels in January alone.
In addition to the tariffs, Trump indicated plans to introduce an “External Revenue Agency” to manage these tariffs and announced that existing tariffs would remain in place alongside the new measures. The announcement had an immediate impact on oil futures, which rose nearly 1.5% following the news.
Trump’s administration has previously imposed sanctions on Venezuela, and this new tariff is intended to further pressure the regime of Nicolás Maduro by targeting its oil revenue sources. However, it remains uncertain how effectively these tariffs will be enforced and what their long-term implications will be for U.S.-Venezuela trade relations and global oil markets.
