In an agreement that may permit Chevron to carry on doing business in Venezuela, President Trump reportedly declared he would apply a 25% tariff to any nation that purchases gas or oil from the country.
Although Chevron was not mentioned by Trump in a social media post on Monday, the firm had urged the government to change its mind about canceling Chevron’s license to operate in Venezuela.
Last week, Trump and Mike Wirth, the CEO of Chevron, met at the White House to discuss the tariff proposal.
A request for more specifics was not immediately answered by the White House. Chevron chose not to respond. No additional Chevron-specific policy adjustments were disclosed by the Treasury Department on Monday.
Trump called the action a “secondary tariff” on Venezuela because of the influx of migrants, including Tren de Aragua gang members, to the United States.
As part of its deportation efforts, the Trump administration has stated that it is deporting suspected gang members.
Over the weekend, Venezuela announced it will start repatriating migrants again after halting such flights due to Chevron’s license revocation.
Trump stated that the action will take effect on April 2, the same day he plans to apply reciprocal tariffs to a specific group of countries.
After the first Trump administration banned Chevron from the Latin American nation after a purported maximum pressure campaign to overthrow Venezuela’s leader, Nicolás Maduro, the Biden administration authorized the company to restart operations in the country in 2022.
Chevron must cease activities in the area by the beginning of April, as the Trump administration indicated last month that it would give the corporation 30 days to go.
Although it was discussed at last week’s White House meeting, the Trump administration has not stated if it intends to extend Chevron’s license to pump oil in Venezuela.
Senior Trump administration officials continue to oppose Chevron’s ability to pump oil in the nation.
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