….by Audley Phillip
In what could be seen as a severe blow to Caribbean Nations, the United States just announced a 25 percent tariff on any country that buys oil and gas from Venezuela.
Caribbean countries have longed enjoy favorable and concessionary terms for their petroleum products from Venezuela.
This would be a significant strike to the Caribbean and could mean exorbitant oil and gas increase if we were forced to buy them from alternative sources.
BACK GROUND:
(Reuters) – U.S. President Donald Trump on Monday issued an executive order declaring that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the U.S., while his administration extended a deadline for U.S. producer Chevron (CVX.N), opens new tab to wind down operations in the South American country.
Trump’s new policy relieves some pressure on Chevron to quickly exit Venezuela after the U.S. Treasury Department on March 4 gave it 30 days to wind down operations. Trump had issued the initial wind-down after he accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns.
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
Treasury said on Monday it would wait seven more weeks until May 27 before terminating a license that the U.S. has granted to Chevron since 2022 to operate in sanctioned Venezuela and export its oil to the United States.
Chevron’s extension came hours after Trump announced the new tariff, saying Venezuela has sent “tens of thousands” of people to the United States who have a “very violent nature.”
The two moves temporarily focus Trump’s pressure on buyers of Venezuelan crude oil other than the United States, such as China, though it is uncertain how his administration will enforce the tariff.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
We mostly only buy from them. What are they going to put tariff on. I hope it is not on every american guest that visit the Caribbean as tourist.
The idea of putting Tarrifs on countries that sells or export nothing to the US, shows how trigger happyness and the stupidity of Trump about Tarrifs and most other things.
Is he going to put Tarrifs on each returning tourism visitor from the countries in question?
In Antigua we are ones who have tarrifs on American goods with import duties that charged
They don’t buy anything from us, but now is a good time to start. We can sell them some guineps
This man ralph gonsalves is a corrupt man who enjoys power, and is putting his son to take over, he will be an American stooge for power.
Last year America was imported around 228,000 barrels of oil a day from Venezuelan, in January 2025 it imported 8.6 million barrels. So is it going to impose a Tariff on it self?
This oil is the earth detriment, the tectonic plates are suspended on oil, to remove the oil we will soon start to feel the velocity of the earth movement as it speeds 65000 MPH around the sun, the plates will shift roughly as in earthquake, if you were to rim a puncture tire the shocks and suspension is of no use to you.