Trump vows to tariff countries importing Venezuelan oil
- Countries taking oil or gas from Venezuela ‘will be forced to pay a tariff of 25%’ on ‘any trade they do’ with the US, the US president said in a social media post
- China, US, India and Spain are the top four importers of Venezuelan oil in 2024, according to Vortexa
- Chevron received an extension until May 27 to wind down its operations in Venezuela
Trump plans to levy a 25% tariff on countries importing oil and gas from Venezuela starting April 2, which will apply to ‘any trade they do’ with the US. China is the largest importer of Venezuelan oil, although the trade accounts for a fraction of its total imports. Meanwhile, the administration also extended the wind-down of Chevron’s Venezuela license
