The United States Will Impose a 25% Tariff on All Goods from Countries Importing Venezuelan Oil

On the local time of March 24th, the White House of the United States stated that US President Donald Trump signed an executive order to impose "tariff sanctions" on countries importing Venezuelan oil. The Ministry of Foreign Affairs of Venezuela issued a statement firmly opposing it.

The White House's statement said that starting from April 2nd, the United States may impose a 25% tariff on all goods imported from any country that directly or indirectly imports Venezuelan oil.

This order empowers the US Secretary of State to decide on his own whether to impose a 25% tariff on the goods of any country that directly or indirectly imports Venezuelan oil on or after April 2nd. Once the Secretary of State decides to impose a 25% tariff on a certain country, the tariff will expire one year after the date of the country's last import of Venezuelan oil, or at an earlier date determined after the Secretary of Commerce consults with the Secretary of State, the Secretary of the Treasury, the Secretary of Homeland Security, and the United States Trade Representative.

US President Donald Trump announced on social media on the 24th that he will impose a 25% tariff on countries that purchase Venezuelan oil and natural gas, and alleged that this Latin American country is full of "hostility" towards the United States. Trump said that the relevant tariffs will take effect on April 2nd. Venezuelan Foreign Minister Hill said on the 24th that the measure of the United States to impose a 25% tariff on countries that purchase oil and natural gas from Venezuela is "illegal" and "arbitrary".

On the local time of the 24th, the Ministry of Foreign Affairs of Venezuela issued a statement saying that it firmly opposes the US government's imposition of a 25% secondary tariff on countries that trade oil and natural gas with Venezuela.

The statement said that the unilateral imposition of tariffs by US President Donald Trump is a new act of aggression and blatantly violates international trade rules such as the General Agreement on Tariffs and Trade (GATT) and the Marrakesh Agreement Establishing the World Trade Organization. Venezuela will take all appropriate actions in international institutions to safeguard its rights and condemn this new violation of the world economic order.