You’re reading the Morning Briefing: Asia Pacific Edition newsletter. Get what you need to know to start your day. Get it sent to your inbox.

       Image

       Credit...Federico Parra/Agence France-Presse — Getty Images

       Trump targets Venezuela with new tariffs President Trump said yesterday that countries that bought oil or gas from Venezuela would be forced to pay a tariff of 25 percent on their exports to the U.S., starting April 2. He claimed that Venezuela had “purposefully and deceitfully” sent criminals and murderers into the U.S.

       Later in the day, Trump said that he “may give a lot of countries breaks” on the tariffs, but did not specify which ones. His administration gave Chevron, the second largest U.S. oil company, another two months to produce oil in Venezuela and sell it to the U.S.

       Trump also celebrated Hyundai Motor, a South Korean conglomerate, at the White House for its announcement of a $21 billion investment in the U.S. The move may help South Korea avoid tariffs. The U.S. is set to enforce reciprocal tariffs on April 2 that will match the taxes that countries impose on American exports.

       Far-reaching effects: Japanese automakers, initially optimistic about some of Trump’s policies, are reckoning with potentially devastating U.S. taxes on foreign-made cars.

       Advertisement

       SKIP ADVERTISEMENT

       Shaping tariffs: Makers of a vast array of American products are weighing the risks, and potential payoffs, of the sweeping tariffs the president has promised to impose on April 2.

       Subscribe to The Times to read as many articles as you like.