- President Trump has announced a 25% tariff on any country that purchases oil and gas from Venezuela. Under the secondary tariff, a country that buys Venezuelan petroleum will be forced to pay a 25% tariff on any trade they do with the United States.
- The president said he’s implementing the policy because Venezuela is “purposefully and deceitfully” sending criminals into the United States.
- The announcement stated the president will sign and register the tariffs on April 2, which the administration is calling “Liberation Day in America.”
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President Trump has announced a 25% tariff on any country that purchases oil and gas from Venezuela, saying that the country is “purposefully and deceitfully” sending criminals into the United States. The tariff will be applied under what’s called a secondary tariff, and any country that buys Venezuelan petroleum will be forced to pay a 25% tariff on any trade they do with the United States.
When will the tariffs go into effect?
The announcement stated the president will sign and register the tariffs on April 2, which the administration is calling “Liberation Day in America.” Trump is scheduled to implement what he’s describing as reciprocal tariffs for countries around the world.
The Trump administration has been negotiating with each country individually to reach an agreement on what the White House calls fairer trade practices. A country’s tariff will be based on the results of the negotiations. The tariffs are expected to impact the European Union, Brazil, China and India, among other countries.
Why Venezuela?
The president said Venezuela has been “hostile” to the United States.
“Among the gangs they sent to the United States, is Tren de Aragua, which has been given the designation of ‘Foreign Terrorist Organization.’ We are in the process of returning them to Venezuela,” Trump wrote in the post on Truth Social.
Venezuela is led by President Nicolas Maduro who is described as a dictator, and whose reelection was rejected by nearly a dozen countries, including the United States.
The Trump administration is in court defending its use of the Alien Enemies Act to deport Venezuelan nationals who are suspected of being in the Tren de Aragua gang.
The judge in the case recently declined to lift a restraining order on the administration’s use of the law, stating those who are slated for deportation would likely succeed in appealing for an individualized hearing to determine whether they are truly gang members.
