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President Donald Trump said Monday he would put a 25% tariff of all imports from any country that bought new tariffs in the South American country.
In a Truth Social Post, Trump Said Venezuela has been “very hostile” to the US and countries Purchasing oil from it will be forced to pay the tariff on all their trade to the US starting april 2.
Tariffs are likely to be added to the taxes facing China, which in 2023 purchased 68% of the oil exported to Venezuela, according to a 2024 analysis ofUS ENERGY INFORMATION ADMINISTRATION. Spain, India, Russia, Singapore and Vietnam are also associated with countries receiving oil from Venezuela, shown in the report.
But even the United States – despite its sanctions against Venezuela – buying oil from that country. In January, the United States imports 8.6 million barrels of oil from Venezuela, according to the Census Bureau, from almost 202 million barrels imported in that month.
And on Monday, the Treasury department issued an extension for US-based Cherko The lease of Corp. to pump and export oil in Venezuela through May 27. The extension, known as the general license, released the country from economic penalties and allowed it to continue pumping oil.
In February, Trump announced an endIn the relationship of Chevron-Venezuela, what has been a financial life for the country of South America.
Venezuelan President Nicolás Maduro responded by accusing US to violate international trade rules with a “disperperce measurement” which is intended to progress “in the South American country.
“For many years, the fascist rights, rejected by Venezuelan people, promoting economic sanctions in hope to bring Venezuela to kneel,” the government said to a statement. “They failed because Venezuela was a sovereign nation, because the people were resisted by dignity, and because the world was no longer submitting any form of economic dictatorship.”
The President of the United States argues that the tariffs will lead to production jobs, rather than the inflationary inflationary inflationary pressures and preventive growths warned by economists. His most recent anecdotal evidence came Monday as Hyundai The White House announced it will build a $ 5.8 billion steel plants in Louisiana.
“This investment is a clear performance that is very strong work,” Trump says, adding that the new plant in South Korea automaker will make 1,400 jobs.
Motor to hyundai The executive chairman of the group, Euisun Chung, speaks to the President: “We are proud to stand with you and proudly build in the future together.”
The latest Tarko of Trump suggests administration willing to move against China in the efforts of changing world economic guides. The Trump administration has already provided universal 20% of the imports of imports from China as an effort to crack the fentanyl trade with highest tensions in the world between the world’s worldwide.
Trump said Venezuela would face a “secondary school” tariff because it was home toGang in Aragua. The Trump administration expelled immigrants who claimed members of that gang illegally crossed by the United States.
Trump has a label on April 2 as the “Freedom Day” The Republican President also adds to his 2018 steel and aluminum tariffs to 25% for all imports, pharmacy, computers, computers, computers.
The US stock market rides on Monday as investors expect tariffs to be more targeted than their first fear. However, the S & P 500 index is far from this year because of concerns that a trading war can prevent economic growth and increase economic pressures.
But Trump is somewhat watched over his plans for tariffs, saying Monday even if he wants to charge “retchcal” rates “can still be better than that.”
This story originally shown Fortune.com
