Global Oil Terminals, owned by billionaire Trump ally Harry Sargeant, is the second U.S. oil company targeted by the administration’s campaign to isolate Caracas.

Having embraced tariffs as a central tool of both economic policy and diplomacy, US President Donald Trump has been creative with his proposals on how to deploy the import taxes. One example is his plan to impose so-called reciprocal tariffs — new duties to be customized for each trading partner with the aim of offsetting any of its practices deemed to put American exporters at a disadvantage.