In force on April 2, Trump said, with the US Ministry of Justice giving Chevron until May 27, to stop its activities and exports from Venezuela.
Donald Trump, aiming to strangle Venezuela financially, announced today that any country buys natural gas or oil from this Latin American country will be affected by 25% duties on all its goods entering the US. These duties will come into force on April 2, he said.
The US president, who has already recalled the permit that allowed the American oil giant Chevron to operate in Venezuela and increases the expulsions of the country’s immigrants, justified his latest measure by writing in the Truth Social Network that Karakas is “very honest”.
He also said that Venezuela has sent “tens of thousands” to the US with “very violent nature”.
With the news of the duties, the future contracts of slow fulfillment have rose nearly 1.5%.
Earlier this month, Trump issued a 30 -day order gradually interruption by the US government at Chevron from 2022 to operate in Venezuela and exporting its oil after accusing President Nicolas Maduro of not making any progress.
Deadline to Chevron by May 27
Following the announcement of duties today, the US Treasury has given Chevron to stop May 27 to stop its activities and exports from Venezuela.
These punitive duties will come into force on the same day as the “mutual” duties that Trump has pledged to impose on all US trade partners.
The US president is referred to April 2 as a “day of liberation”.
These new duties targeting Venezuelan oil buyers could particularly influence India and China, already targeting the US government’s tariff measures.
China, which is already targeted by US duties, is the largest Venezuelan oil buyer, a major exporter of an OPEC member. In February, China immediately and indirectly received about 503,000 barrels a day (BPD) of crude oil and Venezuela fuel, which represented 55% of total exports.
The duties imposed on China in imports of certain types of Venezuelan oil have led to a decrease in the volume of Venezuela’s crude oil that received Chinese buyers, which eventually forced the state -owned PDVSA to expand their prices. Spain, Italy, Cuba and India are other Venezuelan oil buyers.
There was no immediate response from the Maduro government to a request for comment.
The White House tenant has renewed duties as a cornerstone of his economic, social, and even diplomatic policy.
In the minds of the former real estate manufacturer, customs duties are a world weapon that can at the same time bring the industry back to the US, reduce the trade deficit, cover the budget deficit, enhance employment and create a more favorable balance.
Concerning Venezuela specifically, the US president has been deported to deport a large number of immigrants accused of belonging to the Tren de Aragua gang, reaching the point of citing an 18th -century law that has been used only in cases of war, which allows for the arrest and rapid return.
Trump’s national security adviser Mike Walts recently said that the gang, now described as a “terrorist organization”, acts “on behalf of the Maduro regime”.
After using the threat of duties for a while against Colombia to force this country to accept repatriation of immigrants who had illegally entered the US, he used the same weapon against Canada and Mexico to fight these countries more effectively against the US.
He finally suspended much of the 25% duty that initially imposed on Canadian and Mexican products, although trade with the two countries theoretically benefits from the Canadian-United States-Mexico (CUSMA) free trade agreement and signed by the US president.
Trump, on the other hand, imposed a 20% duty on Chinese products for the same reasons, added to those already in force before his return to the White House.
The Republican president also imposed a 25% duty on all steel and aluminum imports that enter the country, this time to protect the US steel industry from foreign competition, especially from Asia countries.
Trump’s next step is expected to be the implementation of mutual duties, which may come into force on April 2.
However, markets expect that they will be smaller than those announced, focusing on the main trading partners in the US, with possible exceptions to certain areas.
The US president has never hidden his desire to impose duties on the car industry, the pharmaceutical industry and the semiconductor industry.
Speaking to journalists at the White House today, he said he would soon announce duties to a car industry, aluminum and medicinal products.
The new sectoral duties “may or not, come into force on April 2,” an American official told the French agency, adding that the situation remains “very unstable”.
Source: RES-EIA