Industry uncertainty continues over materials and Venezuelan tariffs

Industry uncertainty continues over materials and Venezuelan tariffs

TUCSON, Ariz. (BRAIN) — A speaker at last week’s Bicycle Leadership Conference declared “uncertainty” the Word of the Year for this industry and others, with much of the prevailing unease related to U.S. tariffs that have taken effect or been threatened.  The uncertainty continues over Section 232 steel and aluminum tariffs that were imposed earlier this month, a new tariff on products from countries that import Venezuelan oil — which could take…

India, through Reliance Industries, has received exemptions from the United States to buy Venezuelan oil under certain conditions, as has Chevron and Repsol.

The threat from the United States to impose 25% secondary tariffs on Venezuelan oil-importing countries is a new challenge for India's oil-import diversification strategy, which is, together with China, one of the largest buyers of Venezuelan crude oil.According to data from the country's Department of Commerce, India is one of the main buyers of Venezuelan oil, after importing 22 million barrels in 2024.In January, its purchases amounted to mor…