The President has issued a new executive order announcing the following:
“A tariff of 25% may be imposed on all goods imported into the United States from any country that imports Venezuelan oil on or after April 2, 2025, whether directly from Venezuela or indirectly through third parties”.
“The Secretary of State, in consultation with the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Security, and the United States Trade Representative, is authorized to determine in his discretion whether the tariff of 25 percent will be imposed on goods from any country that imports Venezuelan oil, directly or indirectly, on or after April 2, 2025”.
“Once imposed on a country at the Secretary of State’s discretion, the tariff of 25 percent shall expire 1 year after the last date on which the country imported Venezuelan oil, or at an earlier date if the Secretary of Commerce, in consultation with the Secretary of State, the Secretary of the Treasury, the Secretary of Homeland Security, and the United States Trade Representative, so determines at his discretion”.
