WASHINGTON (AP) — President Donald Trump said Monday he would be placing a 25 per cent tariff on all imports from any country that buys oil or gas from Venezuela as well as imposing new tariffs on the South American country itself.
In a Truth Social post, Trump said Venezuela has been “very hostile” to the US and countries purchasing oil from it will be forced to pay the tariff on all their trade to the US starting April 2.
Venezuela will face a “Secondary” tariff because it is the home to the gang Tren de Aragua, he said. The Trump administration is deporting immigrants that it claims are members of that gang who illegally crossed into the United States.
Trump said his social media post would serve as notification of this policy to the Department of Homeland Security and other law enforcement agencies.
Trinidad and Tobago was previously granted a waiver against oil sanctions, allowing it to proceed with the Dragon gas project, which involves the purchase and transport of gas from Venezuela’s Dragon Gas Field to the Hibiscus platform via a 22 km pipeline.
Preliminary work on the project began in late 2024
Government said in April 2024 that the amended OFAC licence was issued to Trinidad and Tobago and valid until October 31, 2025, permitting Shell, NGC and contractors to continue works for the exploration, production and export of Venezuela’s natural gas.
Prime Minister Stuart Young SC said he intends to continue to work to negotiate for the project’s continuation, which, if successful, would see first gas by 2026 or 2027.
Young leaves for Jamaica on Wednesday to meet with US Secretary of State Marco Rubio to discuss bilateral relations, alongside CARICOM Chairman, Barbados Prime Minister Mia Mottley, Jamaican Prime Minister Andrew Holness, and other CARICOM heads of government members.