National Economic Council director Kevin Hassett breaks down President Donald Trump’s latest economic moves and the impact of DOGE cuts on ‘Maria Bartiromo’s Wall Street.’
President Donald Trump announced on Monday that any country that purchases Venezuelan oil or gas would be subject to a 25% tariff on U.S. trade.
The announcement was posted in third-person to Trump’s Truth Social account.
“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,” the post said.
That includes gang members of Tren de Aragua, which the State Department recently designated as a foreign terrorist organization.
WH MAY REVERSE DECISION TO KILL BIDEN-MADURO OIL DEAL, APPLY TARIFFS INSTEAD TO AVOID HURTING US FIRMS
President Donald Trump threatened a 25% tariff on countries that buy Venezuelan oil and gas. (Andrew Harnik/Getty Images / Getty Images)
“We are in the process of returning them to Venezuela – It is a big task!” the post said. “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,” the post said. “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!”
The announcement could implicate China, which is Venezuela’s largest foreign customer.
Trump has already implemented universal 25% tariffs on imports from China, citing the peddling of fentanyl across the border.
Diosdado Cabello, Venezuela’s interior minister, speaks to the press after receiving deported individuals from the U.S. at Simon Bolivar International Airport in Maiquetia, Vargas state, Venezuela, early on Monday, March 24, 2025. (Bloomberg / Getty Images)
US DEPORTATION FLIGHTS TO VENEZUELA RESUME FOLLOWING WEEKS-LONG STANDOFF
Venezuela said Sunday the country would resume accepting repatriation flights after a weeks-long standoff with the Trump administration. The Department of Homeland Security confirmed to Fox News Digital that a flight of 199 illegal immigrants from Venezuela – including Tren de Aragua members – landed back in Venezuela on Sunday.
Trump has deemed April 2 as “LIBERATION DAY,” when the administration plans to implement reciprocal import taxes.
“For DECADES we have been ripped off and abused by every nation in the World, both friend and foe. Now it is finally time for the Good Ol’ USA to get some of that MONEY, and RESPECT, BACK. GOD BLESS AMERICA!!!” Trump wrote on Truth Social.
Deported individuals from the U.S. arrive on a flight at Simon Bolivar International Airport in Maiquetia, Vargas state, Venezuela, on Monday, March 24, 2025. (Bloomberg / Getty Images)
In recent interviews, Trump administration officials have suggested that the reciprocal tariffs would take a more targeted approach.
“One of the things we see from markets is they’re expecting they’re going to be these really large tariffs on every single country,” National Economic Council Director Kevin Hassett told Fox News. “I think markets need to change their expectations, because it’s not everybody that cheats us on trade, it’s just a few countries and those countries are going to be seeing some tariffs.”
CLICK HERE TO GET THE FOX NEWS APP
Trump told reporters Friday there would be “flexibility” for some tariff exceptions.
The Republican president has also vowed to fully implement 25% tariffs against Mexico and Canada. He has already bumped his 2018 tariffs on steel and aluminum to 25% for all imports.
Fox News Digital’s Julia Bonavita contributed to this report.
