In his Monday announcement on Truth Social involving Venezuela, the president cited “numerous reasons” for what he called a “secondary tariff”.
He accused Venezuela of “purposefully and deceitfully” sending “undercover, tens of thousands of high level, and other, criminals” to the United States.
He added in his post that “Venezuela has been very hostile to the United States and the Freedoms which we espouse.”
According to Trump’s order, the 25 per cent tariff expires a year after the last date that a country has imported Venezuelan oil – or sooner if Washington decides so.
Trump’s announcement comes as the deportation pipeline between the United States and Venezuela was suspended last month when he claimed Caracas had not lived up to a deal to quickly receive deported migrants.
Venezuela subsequently said it would no longer accept the flights.
But Caracas said Saturday it had reached agreement with Washington to resume repatriations after which nearly 200 Venezuelan citizens were deported from the United States via Honduras.
Separately Monday, the Trump administration extended US oil giant Chevron’s deadline to halt its operations in Venezuela through May 27.
The company had been operating in Venezuela under a sanctions waiver.
TARIFF “BREAKS”?
Trump’s latest move adds to tariffs he has vowed would start on or around Apr 2.
Besides reciprocal tariffs, he has promised sweeping sector-specific duties hitting imported automobiles, pharmaceuticals and semiconductors.
As things stand, however, his plans for the day might become more targeted.
Sector-specific tariffs “may or may not happen Apr 2,” a White House official told AFP, adding that the situation is “still fluid.”
The official reaffirmed that reciprocal tariffs would take place.
But Trump told reporters Monday he might “give a lot of countries breaks” eventually, without elaborating.
He separately added that he would announce car tariffs “very shortly” and those on pharmaceuticals later down the line.
US partners are furthering talks with Washington as deadlines loom, with EU trade chief Maros Sefcovic heading to the country Tuesday to meet his counterparts – Commerce Secretary Howard Lutnick and trade envoy Jamieson Greer.
Hopes of a narrower tariff rollout gave financial markets a boost.
Treasury Secretary Scott Bessent told Fox Business’ Maria Bartiromo last week that Washington would go to trading partners with an indication of where tariff levels and non-tariff barriers are.
If countries stopped their practices, Bessent added, they could potentially avoid levies.
Source: CNA
