President Trump announced that starting April 2, the U.S. will impose a 25% tariff on any country importing oil or gas from Venezuela. This “secondary” tariff targets Venezuela and its trading partners and will be assessed on a country-by-country basis by administration officials. The tariff will last for one year after a country’s last import from Venezuela, though it can be shortened. Trump cited immigration and national security reasons for the decision, while experts noted that a decline in Venezuelan oil exports is unlikely to impact the global market significantly.

Source: https://www.supplychaindive.com/news/trump-tariffs-venezuela-oil/743386/