Washington | President Donald Trump appeared to invent a new weapon of economic statecraft on Monday (Tuesday AEDT) by threatening what he dubbed “secondary tariffs” on countries that buy oil from Venezuela to choke off its oil trade with other nations.
The threat, delivered via Truth Social post then confirmed in an executive order, said countries could face 25 per cent tariffs on trade with the US if they purchase oil and gas from Venezuela, which is already under heavy US sanctions. The move was meant to pressure Venezuela for the “tens of thousands of high level, and other, criminals” that Trump said Venezuela has sent to the US.
