Trump’s latest tariffs threat suggests the US will take bolder moves against China, Venezuela’s largest oil customer.
In March 2025, US President Donald Trump announced a 25% tariff on all imports from countries purchasing oil or gas from Venezuela, effective April 2. China, the largest consumer of Venezuelan oil, would likely be most affected. Despite sanctions, the US also imports Venezuelan oil, and Chevron Corp.'s lease to pump and export Venezuelan oil was extended until May 27.
