“We are ready to overcome the difficulties of the economic warfare that the US President declared to the whole world and Venezuela,” Maduro said on the TV channel of Venezolana de Television.
He believes Trump has “introduced tariffs and tax measures on countries that could potentially deprive humanity and Venezuela from future rights.
Maduro emphasized that the Republic is “ready for global trade and economic wars and has developed a plan for any unforeseen circumstances.”
On April 2, Trump announced the introduction of tariffs on imports from 185 countries and territories. The 10% universal tariff will come into effect on April 9th and April 5th. Additionally, the US administration has introduced a 25% tariff on all imported vehicles since April 3rd.
Since 2015, the US and its allies have imposed over 930 unilateral restrictions on Venezuela. The biggest losses to the Venezuelan economy will be caused by sanctions imposed in 2019 on state oil and gas company Petrolos de Venezuela (PDVSA) during Donald Trump’s first presidency.
In February this year, Trump cancelled an exception to the sanctions regime that allowed American and foreign oil companies to operate in Venezuela. In April, 25% of import operations were introduced for countries purchasing oil or gas from Venezuela.
MA/PR