President Donald Trump issued a warning on Monday of implementing a 25% tariff on any country that buys oil and gas from Venezuela, escalating tensions with the Latin American nation over immigration and potentially disrupting the global energy trade. This action is intended to decrease funding for Nicolás Maduro's government in Caracas and increase pressure on China, a significant consumer of Venezuelan crude oil that is already facing 20% tariffs from the US. Trump also mentioned that the US, which is also a major importer of Venezuelan oil, would be affected by this tariff. The tariff is set to come into effect on April 2nd, the same day that the US government is expected to announce a broader range of tariffs impacting multiple countries, further complicating global trade relations. In response to Trump's announcement, US crude futures saw an increase, reaching a three-week high, as concerns over oversupply and uncertainties in the US economy have been affecting oil prices recently. Trump labeled these new charges as "secondary tariffs," a tactic similar to secondary sanctions targeting entities conducting business with specified entities. Since his return to office, Trump has been intensifying scrutiny and sanctions on Venezuela, undoing some of the measures eased during President Joe Biden's term. Trump stated on Truth Social that any nation purchasing oil or gas from Venezuela would need to pay a 25% tariff to the US starting on April 2, 2025, which he dubbed "Liberation Day in America." Trump criticized Venezuela for its hostility towards the US and its values. The increased pressure from the US comes as Venezuelan crude exports hit a five-year high in February before the Trump administration directed Chevron Corp. to cease operations in Venezuela by April 3. The remark from Trump followed Chevron's attempts to extend the deadline for concluding its operations with Venezuela's state-owned company, Petroleos de Venezuela SA, although a Chevron spokesperson declined to comment on the matter.