The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, confirmed that the Economic Emergency Decree will be signed on April 8 to defend Venezuelan heritage:
«Tomorrow I will explain this plan to you step by step. Venezuela has a plan to defend its economy after the sanctions imposed by the United States; we will face the world’s trade war.»
«We are making the respective following up in order to protect ourselves. Fortunately, we have a plan, the 13 productive engines are in place, in addition to a solid business union with broad consensus,» declared President Maduro during his «Con Maduro+» program.
There are no winners in the Tariffs War:
The president warned that Donald Trump’s trade policies harm not only emerging economies, but also the American citizens:
«The consequence of this war is the loss of billions of dollars worldwide. It punishes the American people. This war has self-inflicted damage to its domestic economy,» he stated.
The President accused Washington of destroying the multilateral trade order: «Today the US government is destroying the international law, the World Trade Organization, and we the peoples of the South must get prepared.»
USA abandoned globalization:
Vice President Delcy Rodríguez called April 2 a historic date: The day the United States abandoned the globalized model with an unprecedented tariffs offensive.
«They are violating all trade limits, which has triggered a global reformatting,» she noted.
Rodríguez said the global energy market is already suffering the consequences, forcing producing countries to adjust strategies. She also cited a report by JP Morgan, which raises the risk of a global recession to 60% following Trump’s measures.
Venezuela Bets on Productive Resilience:
Faced with this adverse scenario, the Bolivarian government reiterated its confidence in the 13 productive engines and in alliances with the private sector in order to mitigate the impact. Maduro insisted that the response must be collective: «The world is no longer in the stage of colonization.»
With this decree, Venezuela joins the nations seeking to counter what they denounce as an «economic hegemony» driven by Washington.