Trump Announces 25% Tariff on Venezuelan Oil Buyers

US President Donald Trump has announced a 25% tariff on countries purchasing oil and gas from Venezuela, a move aimed at tightening economic pressure on President Nicolás Maduro and curbing China’s growing influence in the South American nation’s energy sector.

The tariffs, set to take effect on April 2, will apply to all nations conducting trade with both Venezuela and the United States.

Venezuela, which exported nearly 660,000 barrels per day in 2024, counts China as its largest buyer, with 270,000 barrels per day shipped last year.

The US was the second-largest destination, importing around 233,000 barrels per day, followed by India and Spain. Analysts predict that the new tariffs could drive global oil prices higher, particularly if Trump enforces additional restrictions on Venezuelan crude.

The decision aligns with Trump’s broader strategy to weaken the Maduro regime. The president has accused Venezuela of facilitating illegal migration to the US by sending members of the Tren de Aragua gang, which his administration recently designated a foreign terrorist organization.

Trump has also invoked the 1798 Alien Enemies Act in response to what he describes as an invasion orchestrated by the Venezuelan government.

Meanwhile, the US Treasury Department has extended Chevron’s license to operate in Venezuela until May 27, despite Trump’s previous pledge to reverse a Biden-era decision that allowed the company to resume production.

Chevron, which holds stakes in multiple Venezuelan oil projects, had reportedly lobbied the administration for an extension.

The new tariffs are seen as an effort to curb Chinese influence in Venezuela’s oil sector while strengthening US energy security.

However, the move has sparked legal and political controversy, with federal courts blocking Trump’s attempt to deport suspected gang members under the Alien Enemies Act.

The dispute has drawn sharp criticism from legal experts, with Supreme Court Chief Justice John Roberts rejecting Trump’s calls to impeach the judge who blocked the deportation plan.

As the geopolitical and legal battles unfold, Trump’s aggressive stance on Venezuela is expected to have far-reaching implications for global energy markets, US foreign policy, and domestic political dynamics.