Via Economic Policy Journal

It doesn’t stop with this gut, President Trump just loves economic warfare.

Late Monday he announced the US would expand its existing sanctions against Venezuela with an executive order to impose a total economic embargo against the country.

The embargo freezes assets of the government of Venezuela and associated entities and prohibits economic transactions with it, unless specifically exempted.

In a letter to Congress outlining the action Monday night, Trump said, “I have determined that it is necessary to block the property of the Government of Venezuela in light of the continued usurpation of power by the illegitimate Nicolas Maduro regime, as well as the regime’s human rights abuses, arbitrary arrest and detention of Venezuelan citizens, curtailment of free press, and ongoing attempts to undermine Interim President Juan Guaido of Venezuela and the democratically-elected Venezuelan National Assembly.”

Of course, an embargo is an act of war that moves in the complete opposite direction from free trade and peace among nations. The internal affairs of Venezuela should be of no concern to the U.S. The pipsqueak country is no threat to us,

RW


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