US President Donald Trump has announced steep 25% tariffs on countries importing Venezuelan oil, a move that could impact China, India, and other major economies. The tariffs, set to take effect on April 2, add to the uncertainty in global trade relations.

Trump justified the move by accusing Venezuela of sending criminals to the US and being hostile to American values. The tariffs will remain in place for one year after a country's last Venezuelan oil purchase unless Washington decides to lift them earlier.

Experts note that Venezuela exported 500,000 barrels of oil per day to China and 240,000 barrels to the US in February. The move follows a halt in US-Venezuela deportation agreements, further straining relations.

With Trump's declaration of April 2 as “Liberation Day,” tensions between the US and its trade partners are set to rise, potentially impacting energy prices worldwide.