Trump: Who buys from sanctioned countries will face 25% tariff

On Monday, March 24, President Trump announced that he would impose a 25% tariff on all countries purchasing oil and natural gas from Venezuela.

The President took to the social media platform “Truth Social” to declare that the United States would implement a secondary tariff on Venezuela for various reasons, including Venezuela’s “intentional and deceptive” secret dispatch of tens of thousands of criminals to the United States, many of whom are murderers and violent individuals.

President Trump specifically mentioned the Tren de Aragua gang in Venezuela, which is currently designated by the United States as a “foreign terrorist organization.”

The President stated that the U.S. is in the process of repatriating these individuals back to Venezuela, but he acknowledged that it is a challenging task.

“Any country purchasing oil and/or natural gas from Venezuela will be required to pay a 25% tariff to the United States, which will apply to all their trade with the U.S.,” Trump wrote.

The President indicated that he will sign the tariff documents, with the proposed tariffs set to take effect on April 2.

He has notified the Department of Homeland Security, the Border Patrol, and other law enforcement agencies about the decision.

China is Venezuela’s largest oil exporting country, followed by the United States. With the Biden administration easing sanctions on Venezuela, Venezuela’s oil exports to the U.S. have significantly increased.

Furthermore, India also saw a substantial increase in its crude oil imports from Venezuela in 2024.