US President Donald Trump imposed heavy tariffs on imports from nations that buy Venezuelan oil and gas on Monday, a punitive step that may harm China and India, among others, and create new global trade uncertainties.
Since returning to the White House in January, Trump has imposed tariffs on both friends and rivals, aiming to wield economic and diplomatic leverage.
According to an order signed by Trump on Monday, the new across-the-board 25% tariffs on direct and indirect buyers of Venezuelan oil could go into force as early as April 2.
The secretary of state, in collaboration with other US agencies, is authorised to decide whether the charge will be applied.
These might affect China and India, according to analysts, as Venezuela sends oil to both nations, as well as the United States and Spain.
Trump told reporters on Monday that the 25% duty would be in addition to existing tariffs.
Experts told AFP that in February, Venezuela shipped around 500,000 barrels of oil per day to China and 240,000 barrels to the United States.
Trump has declared April 2 “Liberation Day” for the world’s largest economy, pledging reciprocal tariffs tailored to each trading partner in an effort to correct practices that Washington considers unfair.
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