Trump's Brand New Policy Tool May Upend Oil Trades

On Monday, Trump presented a brand-new policy tool to the world, “secondary tariffs.” That is, if other countries buy Venezuelan oil and gas, all of their trade with the U.S. will be subject to a 25% tariff. Venezuelan exports are not subject to tariffs, but the buyers are. The message is actually very straightforward. All countries around the world are discouraged from buying oil from Venezuela, as they face the threat of tariffs, while exports that go straight to the U.S. are encouraged. This measure also needs to be considered alongside…