Venezuela to overcome difficulties of global trade war

EghtesadOnline: "We are ready to overcome any difficulties of the economic war that the US President declared to the whole world and to Venezuela," Maduro said on the Venezolana de Television TV channel, TASS reported. 

He believes that Trump has taken tariff and tax measures against countries that could "deprive humanity and Venezuela of the right to the future."

Maduro stressed that the republic "has prepared for a global trade and economic war and has developed plans for any eventuality," because Venezuela is "a free, sovereign and independent country."

On April 2, Trump announced the introduction of tariffs on imports from 185 countries and territories. Universal tariffs of 10% will come into effect on April 5, individual ones - on April 9. In addition, the US administration introduced tariffs of 25% on all imported cars from April 3. Trump declared a state of emergency in the country due to the economic situation.

Since 2015, the United States and its allies have imposed more than 930 unilateral restrictive measures against Venezuela. The greatest damage to the Venezuelan economy is caused by sanctions imposed in 2019, during Donald Trump's first presidency, against the state oil and gas company Petroleos de Venezuela (PDVSA).

In February of this year, Trump canceled exceptions to the sanctions regime that allowed American and foreign oil companies to operate in Venezuela. In April, import duties of 25% were introduced against countries that buy oil or gas from Venezuela. / Mehr