Trump threatens tariffs on Venezuela’s oil buyers

The United States will institute 25% tariff on any country that purchases oil or gas from Venezuela, effective April 2, President Donald Trump announced Monday. 

The “secondary” tariff targeting Venezuela and its trading partners will go into effect the same date Trump has slated for his promised reciprocal tariffs. 

The White House will also be rolling out additional tariff announcements this week ahead of April 2, Trump said in a news conference at the White House Monday. Those tariffs will be levied on goods such as automobiles, semiconductors and lumber.

Trump said on Truth Social the action against Venezuela was being imposed “for numerous reasons,” primarily citing immigration and national security concerns. He did not mention why he was targeting the trade of oil and gas from the country specifically. 

However, decline in crude oil exports from Venezuela wouldn’t affect the global market significantly, said Jason Miller, a professor of supply chain management at Michigan State University, in a LinkedIn post. 

“My question: will the …