MenuToday, disparate Trump policies —more muscular American diplomacy, less soft power, higher tariffs, and the quest for cheap energy — are being tested together in Venezuela. The pro-Russia, pro-China, and pro-Iran far left Maduro regime in Caracas has long been a thorn in the side of the United States in the often-neglected Latin American theater.
The first Trump Administration focused heavily on applying pressure to the country to minimize its benefits from oil exports in the U.S. American economy. Now, early in President Trump’s second term, he is reviving efforts to weaken the Chavista dictatorship by imposing secondary tariffs of 25% on all imports from countries that buy Venezuelan oil, starting on April 2nd. Additionally, on March 29th, the U.S. informed foreign partners of Venezuela’s state-owned oil company, Petroleos de Venezuela (PVDSA), that it plans to revoke authorizations issued by the Biden Administration for them to export Venezuelan oil and byproducts, putting further pressure on Venezuela’s ability to export.
While such measures will have certainly gotten Venezuelan President Nicolás Maduro’s attention, targeting that country’s most profitable industry may be insufficient to implement the president’s agenda.
Read the full article here.