President Donald Trump announced plans for a 25-percent tariff on any country purchasing oil or gas from Venezuela, effective April 2. This move is intended to target Venezuela's government and impact trade with China, its largest energy consumer. The tariffs align with Trump's broader strategy of imposing reciprocal tariffs on imports and coincides with the launch of a new External Revenue Agency to collect these duties. Critics, however, question the necessity of a new agency, given existing tariff collection systems already in place.
The tariff appears designed not only to strike a blow against Venezuela but also against China, the US's main economic rival and the largest consumer of Venezuelan energy products.
Commerce Secretary Howard Lutnick said April 2 would bring 'American liberation day,' signaling a global shift in how countries treat the US.
Critics have noted that creating the External Revenue Agency seems unnecessary, as US Customs already handles tariff collection, raising questions about efficiency.
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