Trump Announces 25% Tariff on Countries Buying Oil from Venezuela
- HNN.WORLD Staff
- Mar 25
- 2 min read
Updated: 5 days ago
President Donald Trump said Monday that he will slap tariffs of 25% on any country that buys oil from Venezuela, calling the nation “very unfriendly” to the United States and its values. “Any Country that buys Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Nation,” Trump wrote in a post on Truth Social.
Trump insisted, without proof, that Venezuela has “intentionally and dishonestly” sent criminals, including violent individuals and members of gangs like Tren de Aragua, to the United States.
This news comes after reports that Trump plans to delay prior tariffs he announced, including charging 25% on imports of pharmaceuticals, cars, and lumber. Those tariffs were originally set to start on April 2, the same day Trump said he’ll roll out a number of matching tariffs on other nations — a day he calls “liberation day.”
He vowed Monday to enforce the 25% tariffs on countries purchasing oil from Venezuela on that same day, later saying it would be stacked on top of any existing tariffs.
Markets traded noticeably higher on Monday and didn’t seem rattled by Trump’s latest warnings.
Venezuela was one of the biggest foreign suppliers of oil to the United States last year, according to Commerce Department trade data. In total, the United States purchased $5.6 billion of oil and gas from there in 2024. This happened after the Biden administration briefly lifted sanctions on Venezuelan oil in 2023. But they were put back in place in April 2024 after the Biden administration accused the country’s leader, Nicolás Maduro, of failing to hold free and fair elections.
But Venezuelan oil still finds its way into the United States even after sanctions were reinstated, thanks to a joint-venture license Chevron was given to pump oil there. That license was set to be revoked on April 3, but after Trump met with Chevron CEO Mike Wirth and other oil executives last week, the Treasury Department announced on Monday it would be extended to May 27.
The initial cancellation of the license was framed by the Trump administration partly as a way to punish Venezuela for refusing to take back deported migrants, who were accused of being part of the notorious Tren de Aragua gang.
