MIRIAM NNOLI 
The United States (US) Government has announced abrupt tariffs on imports from countries buying Venezuelan oil and gas, a punitive measure that could hit China and India, among others, and sow fresh global trade uncertainty.
President Donald Trump made this announcement on Monday, March 24 in a signed executive order.
New Telegraph recalls that since President Trump’s return to the White House on January 20, he has unleashed tariffs on US allies and foes alike, attempting to strong-arm both economic and diplomatic policy.
The latest across-the-board is the 25 per cent levies targeting direct and indirect buyers of Venezuelan oil can take effect as soon as April 2.
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However, the US secretary of state, in consultation with other government agencies, is authorized to determine if the new levy will be imposed.
These could hit China and India, with experts noting that Venezuela exports oil to both those countries, and to the United States and Spain.
Trump also told newsmen on Monday that the 25 per cent tariff would be on top of existing rates.
In February, Venezuela exported about 500,000 barrels of oil per day to China and 240,000 barrels to the United States.
