Trump says he will slap a 25% rate on countries that buy “very hostile” oil Venezuela

President Donald Trump said on Monday that he would place a 25% rate on all imports from any country that would buy oil or Venezuela gas as well as impose new prices in the South American country himself.

In a social post, Trump said that Venezuela had been “very hostile” in the United States and that the countries that buy it, it would be forced to pay the price on their entire profession in the United States from April 2.

The prices would most likely be added to the taxes faced with China, which in 2023 bought 68% of the oil exported by Venezuela, according to an analysis in 2024 by theUS Energy Information Administration. Spain, India, Russia, Singapore and Vietnam are also one of the countries that receive Venezuela oil, according to the report.

But even the United States – despite its sanctions against Venezuela – buy oil from this country. In January, the United States imported 8.6 million barrels of oil from Venezuela, according to the census office, out of approximately 202 million barrels imported this month.

And Monday, the Treasury Department published an extension for the United States Chevron Corp. To pump and export Venezuelan oil until May 27. The extension, known as the general license, exempts the country from economic sanctions and allows it to continue to pump oil.

In February, Trump announced an endto the Chevron-Vennezuela relationship, in what has become a financial rescue buoy for the South American country.

Venezuelan President Nicolás Maduro replied by accusing the United States of raping international trade rules with an “arbitrary, illegal and desperate measure” desperate to “undermine the development” of the South American nation.

“For years, fascist law, repudiated by the Venezuelan people, has favored economic sanctions in the hope of putting Venezuela on their knees,” the government said in a statement. “They failed because Venezuela is a sovereign country, because its people has resisted dignity, and because the world no longer submits to any form of economic dictatorship.”

The American president argues that prices will bring manufacturers, rather than aggravating inflationary pressures and hindering growth as economists have warned. His latest anecdotal proofs came on Monday as Hyundai announced to the White House that it was building a steel plant of $ 5.8 billion in Louisiana.

“This investment is a clear demonstration that the prices work very strongly,” said Trump, adding that the new factory of the South Korean car manufacturer would create 1,400 jobs.

Hyundai engine The group’s executive president, Euisun Chung, told the president: “We are really proud to stay with you and proud to build the future together.”

Trump’s latest price threat suggests that the administration could be willing to take more daring movements against China in its efforts to rewrite directives from the world economy. The Trump administration has already taken universal prices of 20% from imports from China to repair the illicit trade in fentanyl, but another import tax by 25% more could increase tensions between the two largest economies in the world.

Trump said Venezuela will face a “secondary” rate because it is the house of theAragua gang. The Trump Administration expels immigrants who, according to her, are members of this gang who illegally crossed the United States.

Trump described on April 2 as a “liberation day” on the basis of his still clear plans to deploy import taxes to equal the rates billed by other countries, as well as to fully take prices of 25% against Mexico and Canada, the two largest American trade partners. The Republican President also increased his 2018 prices on steel and aluminum to 25% for all imports and has embarked on additional prices on cars, pharmaceutical drugs, wood, computer chips and copper.

The US stock market went up on Monday while investors expect the prices more targeted than they feared earlier. However, the S&P 500 index is down so far this year of concerns that a trade war could hinder economic growth and increase inflationary pressures.

But Trump was a little closely kept by his pricing plans, saying on Monday that even if he wanted to charge “reciprocal” rates that “we could be even nicer than that”.

This story was initially presented on Fortune.com

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