UPDATE - Trump to target countries supplying oil to Cuba with tariffs

ADDS INFO

By Diyar Guldogan

WASHINGTON (AA) - US President Donald Trump signed an executive order Thursday declaring a national emergency and establishing a process to impose tariffs on goods from countries that sell or otherwise provide oil to Cuba, the White House said.

The move is intended to protect US national security and foreign policy interests by pressuring Cuba over what the administration calls its “malign actions and policies," according to a White House fact sheet.

The order authorizes Secretary of State Marco Rubio and Commerce Secretary Howard Lutnick to take "all necessary actions," including issuing rules and guidance, to implement the tariff system and related measures.

"The President may modify the Order if Cuba or affected countries take significant steps to address the threat or align with U.S. national security and foreign policy objectives," according to the order.

Following the US capture of Venezuelan President Nicolas Maduro on Jan. 3, Trump has asserted that Cuba “will be failing pretty soon” as it loses critical financial and energy support previously provided by Venezuela.

"Cuba will be failing pretty soon. Cuba is really a nation that's very close to failing," he said.