President Donald Trump announces a new round of tariffs targeting nations that import oil and gas from Venezuela, marking a significant escalation in his administration’s economic pressure on the socialist-led country. Speaking during a White House Cabinet meeting, Trump says the 25% secondary tariff, which takes effect April 2, is aimed at punishing countries that continue to support what he calls a “criminal regime” by purchasing Venezuelan energy exports.
The announcement directly targets countries like China, Russia, and Spain—key buyers of Venezuelan crude. Trump accuses Venezuela of sending criminals and gang members into the U.S. and insists the new tariff will serve as a deterrent for nations enabling that flow. The White House says this measure complements the administration’s growing efforts to deport Venezuelan nationals deemed threats to national security under wartime legal provisions.
During the meeting, Trump also touted his tariff policies as a major success, stating that billions of dollars in business are returning to the United States as companies reshore operations to avoid penalties. “Jobs are coming back. Business is coming back. We’re making America rich again,” Trump declared.
Elon Musk, who now heads the Department of Government Efficiency (DOGE), attended the meeting and discussed the administration’s campaign to cut federal waste and bureaucracy. Musk revealed his office receives daily death threats but said the team remains committed to trimming redundant agencies and modernizing government operations. “We’re on track to save $2 trillion over the next decade,” Musk told attendees.
The Department of Government Efficiency was created in 2024 after Musk proposed a “government modernization commission” to the President. Trump approved the idea and appointed Musk to lead it, granting DOGE oversight authority to consolidate or eliminate underperforming federal offices.
The tariff announcement has already affected global oil markets, with crude futures rising 1.5% in early trading. China, the largest buyer of Venezuelan oil—importing over 500,000 barrels per day—has not yet responded to the new tariff but is reportedly weighing countermeasures.
In addition to the Venezuela sanctions, Trump hinted at more tariffs on the horizon, including levies on automotive and pharmaceutical imports. “We’re going to be announcing car tariffs very soon,” he said, adding that pharmaceutical tariffs are also under review.
The Cabinet meeting serves as a dual message from the Trump administration: a commitment to strong economic nationalism abroad and aggressive bureaucratic reform at home. Both approaches remain central to Trump’s second-term agenda as he gears up for the 2026 midterm elections and seeks to consolidate his political base with promises of economic strength and governmental accountability.
Sources:
- https://apnews.com/article/9197d606dea29caed6a7a79dd358d26a
- https://www.wsj.com/world/americas/trump-plans-tariffs-on-countries-buying-energy-from-venezuela-0d89ff1c
- https://www.reuters.com/world/us/musk-government-efficiency-team-is-getting-death-threats-daily-basis-2025-03-24
- https://www.reuters.com/business/energy/trump-impose-25-tariff-countries-that-buy-oil-gas-venezuela-2025-03-24
- https://en.wikipedia.org/wiki/Department_of_Government_Efficiency
- https://youtu.be/KLrzIs1fvpU
