US President Donald Trump has warned that countries buying oil from Venezuela will face a 25% tariff on trade with the United States. He made this announcement on Truth Social on Monday.
India, which imported about 63,115 barrels of oil per day from Venezuela in 2024, could be affected by this decision. This comes at a time when India is already preparing for possible US tariffs next month.
Trump said the new tariffs will take effect on April 2, alongside his planned “reciprocal tariffs” on various countries. However, reports suggest that these tariffs may not be as severe and could target specific industries instead.
He linked the oil tariff to his fight against the Venezuelan gang, Tren de Aragua (TdA), which he has declared a “foreign terrorist organization.”
Trump’s Reciprocal Tariffs Begin April 2, But No Sector-Specific Duties
The U.S. government, led by Donald Trump, will introduce new reciprocal tariffs on April 2. However, reports from Bloomberg and The Wall Street Journal indicate that these tariffs will not target specific industries.
Trump’s Earlier Plans for Auto and Tech Tariffs
In February, Trump suggested a 25% tariff on car imports, as well as duties on semiconductors and pharmaceuticals. But after pushback from major U.S. automakers, he agreed to postpone some car tariffs.
No Industry-Specific Tariffs on April 2
According to The Wall Street Journal, the White House has decided not to impose sector-specific tariffs on April 2, though general trade tariffs will still be implemented. Bloomberg also confirmed that industry-based duties will not be included.
