President Trump announced a 25% tariff on Venezuela and any country purchasing its oil, starting April 2nd. The decision follows Venezuela’s agreement to accept deported US immigrants. Trump cites criminal concerns for the tariffs, aiming to curb Venezuelan oil activities. Earlier in February, Trump ended a key oil deal that allowed Chevron operations in Venezuela, reversing Biden-era concessions. Trump’s strategy involves restricting Venezuelan and Iranian oil while potentially collaborating with Saudi Arabia and UAE to adjust OPEC+ output and support US producers. The announcement triggered a rise in oil prices in Monday trade.
Tags #International, #Politics, #WhiteHouse
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