The tariff threat comes just as Trump is reportedly delaying other proposed tariffs, including those on pharmaceuticals, cars, and lumber — also slated for April 2. 
Special 
The tariff threat comes just as Trump is reportedly delaying other proposed tariffs, including those on pharmaceuticals, cars, and lumber — also slated for April 2. In a move that could rattle global energy markets, President Donald Trump on March 24 announced a sweeping new tariff aimed at countries trading with Venezuela. Nations that purchase oil or gas from the Maduro regime will face a 25% tariff on all trade with the United States, beginning April 2.
The announcement came via Trump’s Truth Social platform, where he linked the measure to Venezuela’s alleged role in sending gang members, including those from the designated terrorist group Tren de Aragua, into the US.
The Trump administration has designated Tren de Aragua (a Venezuelan gang) as a foreign terrorist organization. Trump accused Venezuela of covertly sending members of the group into the United States.
"President Donald J Trump announced today that the United States of America will be putting what is known as a Secondary Tariff on the Country of Venezuela," Trump posted. He cited “numerous reasons,” including Venezuela “purposefully and deceitfully” sending “tens of thousands of high level, and other, criminals” into the US, naming Tren de Aragua specifically. “We are in the process of returning them to Venezuela — It is a big task!” he added.
Trump said the new tariff aims to punish not only Venezuela but also countries that continue to trade with it. “Any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country,” he said, calling April 2 “LIBERATION DAY IN AMERICA.”
The Department of Homeland Security and other law enforcement agencies have been notified, Trump added.
In 2024, the US imported $5.6 billion worth of oil and gas from Venezuela, making it one of the country's top foreign energy suppliers, according to Commerce Department data.
The tariff threat comes just as Trump is reportedly delaying other proposed tariffs, including those on pharmaceuticals, cars, and lumber — also slated for April 2. He has hinted at a broader wave of reciprocal trade measures, all set to debut on what he now brands “Liberation Day.”
Impact on India
India had restarted purchases of Venezuelan crude, after a nearly three-year hiatus of US sanctions on the Latin-American country. According to reports, India imported around 22 million barrels of crude oil from Venezuela in 2024, representing 1.5 percent of its total crude oil purchases during that period, with Reliance Industries accounting for nearly 20 million barrels of that total.
Prior to the US imposing sanctions on Venezuela, India's crude oil imports from Venezuela were estimated at 12 percent of total crude oil imports in 2015.
Reliance Industries imports crude oil from Venezuela with the company said to secure an exemption from the US government last July.
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