Article originally appeared on www.zerohedge.com.
President Donald Trump is imposing a 25% ‘Secondary’ tariff on Venezuela, and a 25% tariff on “any Country that purchases Oil and/or Gas from Venezuela,” payable to the United States “on any Trade they do with our Country.”
Trump cited “the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent nature,” in his 25% tariff on Venezuela, and says the additional 25% tariff punishing anyone buying oil or gas will begin on April 2nd.
Needless to say, the news sent oil immediately higher in Monday trade.
The move would particularly affect China, which has been a major purchaser of Venezuelan crude – of which exports had risen to a five-year high in February before the Trump administration said it was forcing Chevron to wind down its operations …
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