Posted on 03/24/2025 10:48:42 AM PDT by SeekAndFind
U.S. President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States.
This "secondary tariff" will take effect on April 2, Trump said in a Truth Social post. Trump is imposing the move because, he said, Venezuela has sent "tens of thousands" of people to the United States who have a "very violent nature."
Benchmark crude oil futures jumped nearly 1.5% on the news of the tariff.
Earlier this month, Trump issued a 30-day wind down of a license that the U.S. had granted to Chevron since 2022 to operate in sanctioned Venezuela and export its oil, after he accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns.
Trump earlier this month invoked the 1798 Alien Enemies Act to justify the deportation of alleged members of Venezuelan gang Tren de Aragua without final removal orders from immigration judges.
China, which already has been the subject of U.S. tariffs, is the largest buyer of Venezuela's oil, the OPEC member's main export. In February, China received directly and indirectly some 503,000 barrels per day (bpd) of Venezuelan crude and fuel, which represented 55% of total exports.
Tariff impositions in China to imports of certain types of Venezuelan oil in past years led to a decline in the volume of Venezuelan crude received by Chinese buyers, which ultimately forced state company PDVSA to widen price discounts to continue sellin to its most important market.
Spain, Italy, Cuba and India are other consumers of Venezuelan oil. U.S. imports of the oil are set to end in early April unless Trump extends the wind down.
There was no immediate response from Maduro's government to a request for comment.
(Excerpt) Read more at msn.com ...
A “secondary tariff.” Just brilliant!
Trump understands that the greatest force we can deploy without resorting to kinetic war, is the power of the American economy/American consumer spending.
We have been ignoring it because we have been so wealthy for so long. We are not wealthy in the same way anymore.
Trump is actively leveraging it. As he should.
On a day when the market is doing well, does he intentionally shoot himself in the foot to see the market correct itself. It is dropped a couple points since he made this announcement.
That's terrible. You're the important thing. It's all about you.
“That’s terrible. You’re the important thing. It’s all about you.”
Yes, the well being of day traders should guide every policy decision.
So, they sell it to a tiny country and that country resells it.
“On a day when the market is doing well, does he intentionally shoot himself in the foot to see the market correct itself. It is dropped a couple points since he made this announcement.”
Worrying about daily movements in the market is for non-investors and day traders.
My portfolio is doing quite well today! When you bet against Trump it usually goes down. Good luck with your TDS.
He should do the same to Cuba. El Presidente Marco is waiting in the wings.
i dont know about this one... using tariffs for reasons other than first enacted, dilutes the reasoning. I hope this doesnt backfire...
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