United States President Donald Trump signed an order on Monday imposing a 25% tariff on any nation that purchases oil from Venezuela, effective April 2.
"On or after April 2, 2025, a tariff of 25 percent may be imposed on all goods imported into the United States from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties," the order reads. The South American country said earlier today that it "firmly and categorically" rejects what it described as Trump's "arbitrary, illegal and desperate measure."
Once imposed, the 25% tariff "shall expire 1 year after the last date on which the country imported Venezuelan oil, or at an earlier date" if so decided, according to the order.
