U.S. President Donald Trump sent another signal that he did not deploy tariffs as a geopolitical weapon. He now reportedly said the U.S. would impose a 25% tariff on all import taxes for oil or gas from Venezuela, which has been subject to U.S. sanctions, but his financial situation is clearly tempted to squeeze harder.
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India will take such punitive measures in the United States in view of India’s Venezuelan crude oil transportation. Trump’s reasons are fragile. He claimed Caracas had been secretly sending “criminals” and violent people to the United States.
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The United States avoids this. Trying to make others is another matter. The most obvious part of such a U.S. policy move is how it affects the right of sovereign states to trade with the people they want. Determining the best import combination for its best fit should be entirely Indian business.
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That is, our crude oil cargo from Venezuela has reached its peak in nearly a decade and has been declining since then. Since they drop to replaceable scores with little to no total shipment volumes for us, Indian importers may calculate that it is best to choose another supplier. This is not ideal, but not the world.
