Venezuelan president vows resilience against US trade restrictions

Venezuelan President Nicolás Maduro has vowed that his country will withstand the impact of a global economic and trade war declared by US President Donald Trump.

Speaking on state television, Maduro said Venezuela is prepared for any scenario and has contingency plans in place, Caliber.Az reports citing Russian media.

He emphasized that Venezuela remains a “free, sovereign and independent country” ready to confront external economic aggression.

Maduro criticized Trump’s sweeping tariffs and tax measures, warning that they threaten not “just Venezuela’s future but humanity’s.” On April 2, Trump announced new tariffs on imports from 185 countries, including a universal 10 per cent tariff effective April 5 and country-specific tariffs starting April 9. Additionally, all imported cars are subject to a 25 per cent tariff beginning April 3. Trump also declared a national emergency in response to the country’s economic challenges.

Venezuela has been under heavy economic pressure from the US since 2015, facing over 930 unilateral sanctions. The most severe were imposed in 2019 against Venezuela’s state oil company, PDVSA, during Trump’s first term. In February 2025, Trump removed previous exemptions that allowed US and foreign oil firms to operate in Venezuela. In April, he introduced 25 per cent tariffs on countries purchasing Venezuelan oil and gas, further isolating the nation economically.

By Nazrin Sadigova