Trump’s Threat of ‘Secondary Tariffs’ Invents New Trade Tool

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg News US Treasury Reporter Daniel Flatley discusses President Donald Trump appearing to invent a new economic statecraft tactic on Monday 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% 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.The novel approach adds to a growing list of tools that Trump has been eager to deploy as part of a push to use America’s economic clout as leverage in achieving its foreign and domestic policy goals. The idea seems certain to increase tensions with the Latin American nation over immigration and foreign policy.Bloomberg News Tech Reporters Julia Love and Davey Alba share the details of their Businessweek Magazine story Google Reshapes Search Around AI as It Races Rivals Like ChatGPT. And we Drive to the Close with Julie Biel, Chief Market Strategist at Kayne Anderson Rudnick.Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.See omnystudio.com/listener for privacy information.