Imposing Tariffs on Countries Importing Venezuelan Oil (March 24, 2025)

Date issued: Mar. 25 2025

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TURBOFAC Commentary (117 words)

Notes:

1) This EO is the first of its kind insofar as it is a type of secondary sanctions where the result is the imposition of a tariff on an entire country (or a "secondary tariff" as described in the social media post announcing the EO at https://truthsocial.com/@realDonaldTrump/posts/114217914259825110). The State Department makes the decision as to whether to impose the tariff, and then it is implemented by CPB, so this type of sanctions provision would ordinarily fall outside the scope of the Research System as related to OFAC, but it is included here given the relationship between OFAC's role in imposing sanctions for Venezuelan oil-related activities and this new (IEEPA-based) authority.