Trump threatens 25% tariff on nations buying Venezuelan oil

WASHINGTON (TNND) — President Donald Trump said Monday that he will impose a 25% tariff on “any country that purchases oil and/or gas from Venezuela.”

Trump claimed in a post on Truth Social that “Venezuela has been very hostile to the United States and the Freedoms which we espouse” adding that they “purposefully and deceitfully” sent violent criminals, including Tren de Aragua gang members to the U.S.

The tariff will take place on April 2, a day he refers to as “liberation day,” which is the same day several reciprocal tariffs will go into place for Canada and Mexico.

On Monday, the first repatriation flight to Venezuela took place after they were stalled on March 8 when the Trump administration revoked a Biden-era license allowing American oil company Chevron to extract and export oil from the country.

Venezuela’s economy is heavily reliant on oil with it accounting for more than 80% of its exports and more than 17% of its gross domestic product.

Trump has accused migrants of being members of the Venezuelan criminal group Tren de Aragua, also known as TdA, and labeled the group an invading force on March 15 when he invoked the Alien Enemies Act of 1798 allowing him sweeping powers for deportations.