Trump to impose tariffs on nations that buy Venezuelan oil

President Trump said Monday he will impose a 25% tariff on the goods of any country that purchases oil or gas from Venezuela, a move that combines his twin focus on trade and immigration.

Mr. Trump, writing on Truth Social, said criminals and violent persons from Venezuela are making their way to the U.S. illegally, and that Venezuela “has been very hostile to the United States and the Freedoms which we espouse.”

“Therefore, any Country that purchases 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 Country,” Mr. Trump wrote. “All documentation will be signed and registered, and the Tariff will take place on April 2nd, 2025, LIBERATION DAY IN AMERICA.”

Independent trade analysts say the top destinations for Venezuelan crude are China, Turkey, Spain, Colombia, Brazil, and India.

Mr. Trump’s effective date aligns with the deadline he set for his team to assign a tariff number to any nation that imposes levies or other trade barriers on U.S. goods.

The administration says it is open to negotiations that could knock down tariff levels once they are assigned.

The U.S. has a thorny relationship with Venezuela, an oil-rich nation, and the Biden administration decided to recognize Edmundo González as the legitimate president instead of Venezuela’s strongman leader, Nicolás Maduro.

Mr. Trump is contending with those leadership issues and targeting members of a Venezuelan gang, Tren de Aragua, who’ve migrated to the U.S. illegally.

“We are in the process of returning them to Venezuela — It is a big task!” Mr. Trump wrote Monday.

Tariffs are a tax or duty paid by importers on the goods they bring in from foreign markets. Mr. Trump says tariffs are a great way to force companies to return to America or keep their operations in the U.S., employ American workers and create revenue to fund domestic programs.

Mr. Trump’s latest threat adds to a bevy of tariff-related moves since he took office in January.

He imposed new tariffs of 20% on Chinese goods and a 25% levy on steel and aluminum imports, and he’s threatened 25% tariffs on Canada and Mexico but exempted most goods for now.

His threat to impose reciprocal tariffs on a host of nations may force other countries to make concessions, though Wall Street investors and business leaders are leery and fear the levies will result in higher costs and consumer prices.