Trump announces 25% tariff on countries buying Venezuelan oil

Donald Trump said he would levy a 25% tariff across the board on any country buying oil or gas from Venezuela. File
| Photo Credit: AP

President Donald Trump said on Monday (March 24, 2025) he would levy a 25% tariff across the board on any country buying oil or gas from Venezuela, as he escalates trade wars with a number of U.S. foes and allies.

“Venezuela has been very hostile to the United States and the Freedoms which we espouse,” he wrote on his Truth Social network. “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.”