President Trump has threatened to impose a 25% tariff on countries that buy oil from Venezuela.
Nigeria News Nalin According to reports, U.S. President Donald Trump announced plans to impose a 25% tariff on any country that buys oil or gas from Venezuela.
The proposed tariffs reveal part of the government’s strategy to exert economic pressure on South American countries in an article on the Society of Truth.
Trump accused Venezuela of hostility to the United States and alleged that there was no evidence that the country had sent criminals, including gang members such as Tren de Aragua, to the United States.
“Venezuela is very hostile to the United States and the freedom we advocate,” Trump said.
Trump’s proposed tariffs have attracted strong criticism from Venezuela and its highest trading partner China.
Oil prices surged after the announcement, WTI futures climbed 1.22% at Nymex to $69.11 a barrel on Monday, while ICE’s Brent Futures rose 1.16% to $73 a barrel.
Both benchmarks hit their highest levels since March 3, raising 11% and 6.7% respectively, despite a slight pullback at Tuesday’s Asian conference.
Venezuelan President Nicolás Maduro condemned the tariffs as “arbitrary, illegal and desperate measures” that aim to undermine the country’s sovereignty and economic progress.
The fascist rights rejected by the Venezuelan people have promoted economic sanctions for years, hoping to surrender Venezuela to its knees. They failed because Venezuela is a sovereign state. After all, its people have resisted dignity, and because the world no longer tends to any form of economic dictatorship of economic dictatorship. ”
China also expressed opposition to the US’s actions. Foreign Ministry spokesman Guo Jiakun criticized the U.S. government’s interference in Venezuela’s internal affairs in regular briefings and called for the lifting of unilateral sanctions.
If implemented, Trump’s tariffs could greatly affect the U.S.-China trade, raising tariffs on Chinese goods to 45%, and levying steel and aluminum taxes to 70%.
