US Weighs Tariffs Over Venezuelan Oil Imports

On 24th March President Trump passed an executive order which from 2 April 2025 will enable the US, via the Secretary of State, in consultation with the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Security and the United States Trade Representative, to determine in his discretion, whether a tariff of 25 percent should be imposed on goods imported into the US from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties. One effect of this measure could be to further deter actors away from Venezuelan oil.