Mar 25, 2025 – Tentative: Imposing Tariffs on Countries Importing Venezuelan Oil

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. 

Duties imposed by this order will be in addition to any duties already being assessed, including: 

• • IEEPA
  • Section 232 
  • Section 301 

Some primary countries that import oil or petroleum products from Venezuela are:

• China
• India
• Spain
• Cuba
• Brazil
• Turkey

Other countries who also import Venezuelan oil, though in smaller or less consistent volumes are:

• Italy
• Russia
• Singapore
• Vietnam

According to Sandler, Travis & Rosenberg, P.A. (ST&R) notes that on Monday, March 24, President Trump issued an executive order instructing the Secretary of State to determine which countries may be subject to additional tariffs of 25% as early as April 2, because those countries import oil from Venezuela.

As of early 2025, several countries import oil or petroleum from Venezuela. Based on available data and trends, the primary importers include:

China: The largest buyer, accounts for a significant portion of Venezuela’s oil exports (over 50% in recent years, with approximately 503,000 barrels per day (bpd) reported in early 2025

United States: Imports averaged around 222,000 bpd in 2024, though this may decrease after April 2025 due to expiring U.S. licenses and potential tariff policies

India: Imports roughly 125,000 bpd in early 2025

Spain: Imported about 75,000 bpd in 2024

Cuba: Imports around 32,000 bpd in 2024

Brazil: Imports an estimated at 8-10% of Venezuela’s total exports in recent years

Turkey: Imported about 13-14% of Venezuela’s exports in 2023

Other countries, such as Italy, Russia, Singapore, and Vietnam, also import Venezuelan oil, though in smaller or less consistent volumes.

These tariffs would be in addition to any other tariffs already in place on a country such as section 232, section 301, and/or IEEPA tariffs. 

Estimated tariff rates:
While final tariff rates are not yet confirmed, we have estimated potential reciprocal tariffs based on current trade data:

• China: 3.1%
• India: 11.5%
• Germany & France: 2.8%–3%
• Mexico: 6%
• Brazil & South Korea: 7%–10%
• Japan & the UK: 2.5%

These figures represent trade-weighted averages and may vary depending on specific trade policies. 

Next steps and support: These tariff policies are still being finalized, and updates from U.S. Customs and other trade authorities may impact the final details. We encourage you to stay informed and review any new developments that could affect your supply chain.