The Trump administration plans to impose steep tariffs on countries importing Venezuelan oil, according to CNBC. President Trump announced that starting April 2, any country buying oil from Venezuela will face a 25% “secondary tariff” on all its trade with the U.S. Analysts call the move unprecedented and likely to increase global trade uncertainty. China is Venezuela’s top oil customer and is expected to halt purchases, potentially disrupting 300,000 barrels per day.
