Trump announces 25% tariff on Venezuelan oil buyers starting April 2025

President Donald Trump announced a 25% tariff on countries that import oil and gas from Venezuela, effective April 2, 2025, labeling Venezuela as hostile to the U.S. This policy aims to pressure nations, particularly China—the largest importer of Venezuelan oil—into ceasing their purchases. The tariff is part of a broader strategy to address trade imbalances and is set to coincide with proposed retaliatory tariffs on other trading partners. Following the announcement, Venezuelan sovereign bonds fell, reflecting market concern over the potential economic impact. Oil prices saw a slight increase amid speculation about the effect of reduced Venezuelan oil on global supply, although gains were tempered by ongoing discussions about increasing OPEC+ output. Trump's administration may consider a more targeted approach to tariffs rather than a broad implementation, indicating flexibility in execution.