The announcement came on Monday, March 24, at 3:34 pm Washington, DC time. This time, Venezuela was the target. On his social media platform Truth Social, Donald Trump lashed out at the Caracas government, which he described as "very hostile" to Washington and accused of helping a gang, Tren de Aragua, to operate on US territory. The message was followed by an executive order published on the White House website, in which the US president threatened to impose a 25% tariff on all exports to the United States from any country buying Venezuelan oil, starting on April 2. The conditional is used: The assessment will be up to Secretary of State Marco Rubio.
Of the 1,300 words in the executive order, only one other country was mentioned: China, to make it clear that if it is to be targeted, its Hong Kong and Macau regions, which have an autonomous customs regime, will also be targeted "to reduce the risk of transshipment and evasion." China is Venezuela's biggest oil customer, buying 40% of its exports in February, and is also its primary creditor.
This latest threat joined a list of measures against China that has grown rapidly since Trump's inauguration in January. The previous administration had focused its restrictions on specific sectors, particularly to curb Beijing's catch-up in semiconductors. Washington had dubbed its strategy "small yard, high fence." Except in sensitive areas, business was to be allowed to continue.
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