President Trump issued an Executive Order which threatens a 25% tariff on countries that import Venezuelan oil.

The language in the Executive Order reads: “On or after April 2, 2025, a tariff of 25 percent may be imposed on all goods imported into the United States from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties.”  (Emphasis supplied)

The Executive Order authorizes the Secretary of State – in consultation with the Secretaries of the Treasury, Commerce, and Homeland Security and the U.S. Trade Representative – to determine whether the tariff will be imposed.

The Executive Order defines “Venezuelan oil” to mean crude oil or petroleum products extracted, refined, or exported from Venezuela, regardless of the nationality of the entity involved in the production or sale of such crude oil or petroleum products.