“President Donald Trump said Wednesday the United States will end the Biden administration’s concessions aimed at promoting free elections in Venezuela, canceling a license that allowed U.S. oil company Chevron to produce and export oil in the country.”
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“Chevron’s oil exports out of Venezuela reached 294,000 barrels a day in January, the highest level since it resume shipments from its operations there in early 2023, Reuters reported earlier this month citing data from Venezuela’s state-owned company PdVSA. That crude oil went to refineries in the United States, according to the data.
Venezuela produced just over 1 million barrels a day of oil in January, according to data it reported to OPEC.”
Coercion may work against smaller countries on issues that don’t hurt them too much, but that doesn’t mean it will work against stronger countries. Trump’s first term trade war with China was a failure.
“President Donald Trump on Sunday announced retaliatory tariffs on Colombia after its president blocked US military deportation flights from landing, the first instance of Trump using economic pressure to force other nations to fall in line with his mass deportation plans since he took office last week.
Hours after Trump’s announcement, Colombian President Gustavo Petro said he ordered the commerce ministry to raise tariffs on US imports by 25%.”
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“Earlier in the day, Petro announced he had blocked two US military flights carrying migrants heading toward the country and called on the United States to establish better protocols in its treatment of migrants. Petro also left the door open to receiving repatriated migrants traveling on civilian planes.
Following Petro’s initial announcement, Trump criticized him on social media while announcing a slate of new sanctions and policies targeting Colombia, including “emergency 25% tariffs” on all imports from the country that will be raised to 50% in a week, a “travel ban” for Colombian citizens, and a revocation of visas for Colombian officials in the US along with “all allies and supporters.”
“These measures are just the beginning. We will not allow the Colombian Government to violate its legal obligations with regard to the acceptance and return of the Criminals they forced into the United States!” Trump wrote on Truth Social.”
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“The US Embassy in Colombia suspended visa processing in retaliation for Colombia’s refusal to accept repatriation flights, a State Department official told CNN on Sunday evening. The suspension applies to immigrant and non-immigrant visas, which typically number in the thousands each day.”
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“Secretary of State Marco Rubio said in a Sunday statement that Colombian officials had approved two military flights carrying migrants to Colombia and then revoked the authorization once they were en route”
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“Petro disputed that he had given authorization, writing on X after the secretary of state’s statement, “I will never allow Colombians to be brought in handcuffs on flights. Marco, if officials from the Foreign Ministry allowed this, it would never be under my direction.””
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“The US began using military aircraft to return recent border crossers back to their countries of origin last week.”
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“The Department of Defense “has helped administrations before, but not at this level. So it’s a force multiplier, and it’s sending a strong signal to the world. Our border’s closed,” Homan told ABC News.”
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“Mexico also appeared to turn around a military flight heading for the country last week.
Brazil joined Colombia on Sunday in condemning the Trump administration’s handling of repatriated migrants on deportation flights, denouncing the treatment of Brazilian nationals who arrived in the country Friday as “degrading.”
Brazilian authorities said they found 88 handcuffed deportees on a US flight headed to Belo Horizonte, Brazil, that landed in Manaus due to a “technical error.” Brazilian officials did not authorize the plane to continue on due to “the use of handcuffs and chains, the poor condition of the aircraft, with a faulty air conditioning system, among other problems,” and the migrants were transported to Manaus on a Brazilian Air Force flight.”
“In his inauguration address on Monday afternoon, President Donald Trump said his “proudest legacy” would be “that of a peacemaker.”
Moments later, Trump threatened to seize a portion of the sovereign territory of another country—specifically, the Panama Canal, a crucial link for global trade.”
“In September 2021, El Salvador became the world’s first country to adopt bitcoin as legal tender alongside the U.S. dollar. The vision was ambitious: According to Bukele, bitcoin would “improve the lives and the future of millions,” making it easier to access financial services where traditional banking is often out of reach.
To incentivize adoption, the government launched the Chivo wallet app, offering $30 in bitcoin to anyone who signed up. Bitcoin ATMs popped up nationwide and plans were announced for Bitcoin City, a tax-free, bitcoin-powered metropolis fueled by geothermal energy from a volcano. El Salvador was on its way to become a global crypto hub.
Yet my trip to El Salvador revealed a gap between the promise and the reality. At restaurants, hotels, and shops, my attempts to pay with bitcoin were met with confusion or outright rejection. Despite a 2021 law requiring businesses to accept bitcoin, every establishment I visited turned it down. Instead, I received puzzled looks from waiters, clerks, and cashiers who seemed more perplexed than prepared.
A recent survey conducted by Francisco Gavidia University in San Salvador found that 92 percent of Salvadorans don’t use bitcoin. This marks an increase from the 88 percent found in a similar study conducted by the Central American University, San Salvador last year.
Some locals shared their reasons for opting out. At Lake Coatepeque, one waiter told me he skipped downloading the app entirely because he “didn’t want to give his personal information to the government.” In Santa Ana, another waiter said he wasn’t interested in bitcoin because he “didn’t understand how it worked” and had “no intention of learning.” Others admitted they were scared by the technical glitches in the Chivo wallet.”
Venezuela was almost removed from power, but he survived and then was able to sell more oil thanks to the Americans wanting more oil on the market to counter the scarcity caused by the Ukraine war.
“Last fall, Milei eliminated what The Wall Street Journal termed one of the world’s “strictest” rent-control laws. Per its report: “The Argentine capital is undergoing a rental-market boom. Landlords are rushing to put their properties back on the market, with Buenos Aires rental supplies increasing by over 170 percent. While rents are still up in nominal terms, many renters are getting better deals than ever, with a 40 percent decline in the real price of rental properties when adjusted for inflation.”
With price controls, businesses flee the market because they cannot get a sufficient return on investment. As a result, supply for whatever is controlled falls even as demand stays steady or rises. That’s why price controls on gasoline lead to long lines at gas stations. If prices can’t adjust to reflect supply and demand, then people simply can’t get the items they want.
Sure, removing controls initially raises prices—but then new businesses jump into the fray to capitalize on the market and the boost in competition then reduces prices. By contrast, tightening up government price controls just leads to increasing levels of scarcity and misery.”
“Argentina’s 2020 Rental Law, intended to protect tenants, ended up making housing unaffordable for the average Buenos Aires resident. The issue isn’t unique to Argentina—rent control measures have had similar outcomes elsewhere. In San Francisco, expanded rent control laws led to in a spike in evictions. Meanwhile, in the Netherlands, rent caps have prompted property owners to sell their buildings and exit the rental market, according to Reason’s Christian Britschgi.
Argentina’s experience should serve as a cautionary tale for policymakers: Well-intentioned policies aimed at protecting tenants can sometimes backfire, causing more harm than good.”
There is an alliance of authoritarian countries that include Russia, China, Iran, and Venezuela. They don’t have ideology in common, but they want to maintain authoritarian power over their people. China’s reach doesn’t stay in Asia; they support the autocracy in Venezuela. Russia and Iran also support Venezuela’s dictatorship.