US President Donald Trump has declared that from 2 April 2025, any country purchasing oil or gas from Venezuela will face a 25 per cent tariff on all trade with the United States. The move marks a further escalation in Trump’s trade disputes with both rivals and long-standing allies.

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"Venezuela has been very hostile to the United States and the Freedoms which we espouse," Trump wrote on his platform, Truth Social. "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," he added.

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He went on to say, "All documentation will be signed and registered, and the Tariff will take place on April 2nd, 2025, LIBERATION DAY IN AMERICA."

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The announcement comes just over a week before Trump could move ahead with what he refers to as "retaliatory tariffs" on all US trading partners. These tariffs, set to be introduced on the same date, are part of his long-standing pledge to rebalance trade and bring in extra revenue as Republicans prepare a new tax and spending bill.

However, reports on Monday suggested that the White House might adopt a more targeted strategy than previously expected. Rather than applying tariffs broadly, the administration could focus on what it’s calling the “dirty 15” the small group of countries, roughly 15 per cent of the total, that have the most unbalanced trade relationships with the US.

This more selective approach follows Trump’s comments last Friday, where he hinted there might be some “flexibility” in how the tariffs are rolled out.

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(With inputs from agencies)