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Trump says he'll slap a 25% tariff on countries that buy oil from ‘very hostile' Venezuela [Fortune]

Chevron Corporation (CVX) More Company Research Source: Fortune

Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report

US:NYSE Investor Relations: chevron.com/investors

In a Truth Social post, Trump said Venezuela has been “very hostile” to the U.S. and countries purchasing oil from it will be forced to pay the tariff on all their trade to the U.S. starting April 2. The tariffs would most likely add to the taxes facing China, which in 2023 bought 68% of the oil exported by Venezuela, according to a 2024 analysis by the U.S. Energy Information Administration . Spain, India, Russia, Singapore and Vietnam are also among the countries receiving oil from Venezuela, the report shows. But even the United States — despite its sanctions against Venezuela — buys oil from that country. In January, the United States imported 8.6 million barrels of oil from Venezuela, according to the Census Bureau, out of roughly 202 million barrels imported that month. And on Monday, the Treasury Department issued an extension for U.S.-based Chevron Corp.'s lease to pump and export Venezuelan oil until May 27. The extension, known as a general license, exempts the countr [Read more]

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