By Ali Elias
As reported by multiple sources, former U.S. President Donald Trump has threatened to impose a 25% tariff on U.S. imports from countries that purchase oil from Venezuela. Trump described the measure as a “secondary tariff,” claiming it is intended to penalize the Latin American nation “for numerous reasons,” including allegations that Venezuela has “purposefully” sent gang members to the U.S.
According to Trump, he is also considering easing tariffs on imports from other countries, stating that he “may give a lot of countries breaks.” His comments appeared to confirm reports that he was narrowing the scope of the tariffs set to be announced on April 2.
Previously, Trump had proposed a “reciprocal” tariff system where U.S. trading partners would face equivalent charges to those they impose on American goods. However, on Monday, he suggested that the White House might adopt a more lenient approach.
“We may take less than what they’re charging because they’ve charged us so much, I don’t think they could take it,” Trump stated, while also indicating that some countries could be exempted from the new tariffs.
As reported by market analysts, U.S. stock markets responded positively to Trump’s statements. The S&P 500 closed 1.7% higher, the Dow Jones Industrial Average rose 1.2%, and the Nasdaq ended the day up 2.2%. These gains followed weeks of volatility attributed to tariff concerns.
Tariffs are a tax on imports, paid by the companies purchasing the goods rather than the exporting businesses. Since taking office, Trump repeatedly used tariffs—or the threat of them—as a negotiating tool in various disputes, not all of which were directly related to trade.
According to White House officials, Trump remains committed to imposing tariffs on specific products, including cars, lumber, and computer chips, arguing that such measures have already encouraged investment in the U.S.
The latest tariff threat against Venezuela is expected to pressure major buyers of its oil, such as China, India, and Spain, to reconsider their dealings. These purchases have provided a crucial financial lifeline to the Venezuelan government.
Trump has previously raised tariffs on Chinese imports to at least 20% since February. Speaking to reporters, he said the new tariffs on Venezuela’s oil buyers would be in addition to existing levies.
For Venezuela, China remains a key oil customer. However, reports indicate that Venezuela accounts for only a small fraction of China’s crude oil imports, which surpassed 11 million barrels per day last year.
Meanwhile, the U.S. remains a significant buyer of Venezuelan oil due to exemptions granted to Chevron from economic sanctions. However, according to a statement from the Trump administration, those exemptions are set to expire soon. On Monday, the administration updated its order, extending Chevron’s deadline to wind down operations in Venezuela by two months, now set to expire on May 27.
Chevron declined to comment on the extension. Following the announcement, oil prices climbed more than 1%, as reported by market observers.
The latest tariff threat by Trump marks yet another attempt to use economic pressure to influence foreign policy. While his supporters argue that such tactics strengthen U.S. leverage in global negotiations, critics warn that they risk escalating trade tensions and destabilizing international markets. The response from countries affected by these proposed tariffs, particularly China and India, will be crucial in determining whether Trump’s strategy achieves its intended goals or leads to further economic friction.