President Trump announced on Monday that any countries that buy oil and gas from Venezuela will have a 25% tariff imposed on them. The tariffs will cover any trade the country has with the US and will take effect on April 2nd. Last year, Venezuela exported around 660,000 barrels per day, with China being the main destination for the crude exports. The US was the second largest destination for Venezuelan crude exports. Analysts see the announcement as another action from the Trump administration putting pressure on China as well as an effort to increase pressure on the Venezuelan government lead by President Maduro. In the announcement on Monday, President Trump accused Venezuela of sending gang members to the US.
https://www.cnbc.com/2025/03/24/trump-says-any-country-that-purchases-oil-from-venezuela-will-have-to-pay-25percent-tariff-on-trade-with-us.html
This tariff seems like it was imposed to put pressure on Venezuela, but also maybe with the goal of increasing trade tensions to China. I wonder how this tariff will impact our relation with China and other oil importing countries?
ReplyDeleteIt’s interesting that Trump linked the tariff announcement to claims about Venezuelan gang members entering the US. It seems like he’s framing the tariff as both an economic and security measure. Do you think this strategy will gain public support, or could it backfire by sparking more controversy?
ReplyDeleteIt is interesting seeing these different types of tariffs that are being threatened and how they will affect not only the foreign countries but mostly how they will affect the U.S. It seems many of them would hurt the average American more than it would help.
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