In an unexpected shift in the global trade war, U.S. President Donald Trump has yielded to market pressures and announced a partial 90-day truce, during which he will suspend the imposition of new tariffs.
The White House confirms the move after Beijing maintained its retaliatory tariffs, while China consolidates its digital yuan to challenge the dominance of the dollar.
Legal teams from Venezuela’s Executive Vice Presidency and the Ministries of Foreign Affairs, Hydrocarbons, and Foreign Trade are considering filing a complaint against the United States at the World Trade Organization (WTO). The move comes in response to the imposition of a 25% tariff on goods from any country that exports to the U.S. while also purchasing Venezuelan oil—a measure ordered by President Donald Trump.
President Donald Trump proclaimed a historic shift in U.S. trade policy on Wednesday by signing an executive order imposing “reciprocal” tariffs on countries with which the U.S. runs trade deficits, including key partners like Mexico, Canada, and the European Union.
The recent executive order issued by President Donald Trump has caused a stir in both international energy markets and diplomatic relations. The measure imposes a 25% tariff on all goods imported into the United States from any country that buys Venezuelan oil and gas, effective April 2.
