Probably the most profound thing that has happened in the Americas within the past week has been the United State’s announcement of a steel and aluminum tariff. This tariff was designed to try and bring more manufacturing and labor jobs back to the states but it will have many consequences. First sanctions and retaliatory measures have already been threatened by other countries and organizations such as the EU. Second this will increase the prices of anything using steel and aluminum because foundries and manufacturing chains will have to be rebuilt and opened in the U.S. costing a ton of money. This will raise huge profits for U.S. manufacturers but could cause hyperinflation. This tariff also doesn’t make any sense because they also said Mexico and Canada would be exempt. This means work could just be outsourced to them for cheaper too.
In Venezuela they have been trying everything to get their economy back on its feet. Everything that isn’t losing Maduro’s power. They have an imprisoned Utah man in Venezuela and they have been using him as a bargaining chip to try and lift sanctions. This is a clear sign of desperate attempts to stay afloat. Attempts that are not going to work. The fundamental problem with Venezuela is their economy base and how it is almost entirely dependent on oil. So if oil prices go down then so does the country. This is the worry in many middle eastern countries for when they run out of oil.