Trump announces 25% tariff on countries buying Venezuelan oil – How it will impact India | India News

President Donald Trump mentioned on Monday he would levy a 25 p.c tariff throughout the board on any nation buying oil or gasoline from Venezuela, as he escalated commerce wars with numerous US foes and allies.
“Venezuela has been very hostile to the United States and the Freedoms which we espouse,” he wrote on his Truth Social community. “Therefore, any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country.”
In December 2023 and January 2024, India grew to become the highest purchaser of Venezuelan crude oil. In 2024, India imported 22 million barrels of oil from Venezuela, which made up 1.5% of India’s whole crude oil purchases.
Key figures relating to India’s oil/gasoline imports from Venezuela:

Announcing the brand new tarrif, Trump mentioned on his Truth Social platform: “President Donald J. Trump announced today that the United States of America will be putting what is known as a Secondary Tariff on the Country of Venezuela, for numerous reasons, including the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent nature. Among the gangs they sent to the United States, is Tren de Aragua, which has been given the designation of “Foreign Terrorist Organization.” We are in the process of returning them to Venezuela — It is a big task! In addition, Venezuela has been very hostile to the United States and the Freedoms which we espouse.”
“Therefore, any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country. All documentation will be signed and registered, and the Tariff will take place on April 2nd, 2025, LIBERATION DAY IN AMERICA. Please let this notification serve to represent that the Department of Homeland Security, Border Patrol, and all other Law Enforcement Agencies within our Country have been so notified. Thank you for your attention to this matter!” Trump added.