President Donald Trump announced a significant move on Monday, imposing a 25% tariff on countries purchasing oil and gas from Venezuela.
This decision aims to intensify pressure on both President Nicolas Maduro and China, emphasizing the U.S. stance against the Venezuelan regime.
The tariffs will come into effect on April 2 and will apply to any trade these countries conduct with the U.S., as highlighted by Trump during a White House press conference.
In 2024, Venezuela exported approximately 660,000 barrels of oil per day, with China being the largest buyer, importing around 270,000 barrels daily.
This new tariff measure not only targets countries engaging with Venezuela but may also serve as a strategic maneuver against China, as analysts suggest the tariffs could lead to rising oil prices.
The Trump administration’s ongoing pressure on Venezuela seeks to disrupt the Maduro regime, especially in light of allegations of connections between Venezuelan gangs and threats to U.S. security.
As this policy unfolds, the impact on global oil markets and U.S.-China relations will be closely watched.