President Donald Trump revealed a new tactic in economic diplomacy named "secondary tariffs" on Monday. This approach threatens to impose a 25% tariff on countries that buy oil from Venezuela, which is already under heavy US sanctions. The intention behind this move is to pressure Venezuela over the alleged inflow of criminals into the US.

Trump's innovation in economic statecraft adds to his array of strategies to use the US economic power as a bargaining chip for both domestic and foreign policy objectives. This unconventional economic threat is likely to escalate tensions with Venezuela concerning issues such as immigration and foreign relations.

Experts, like Francisco Monaldi from Rice University, see this move as a fresh concept in economic warfare with uncertain enforceability. Trump's idea blends tariffs with secondary sanctions, which penalize countries or entities engaged in business with sanctioned entities. The primary targets of these "secondary tariffs" could include countries like the US, Spain, India, and the black market, especially China, a significant player in the black market for Venezuelan oil.

Trump's executive order has granted Secretary of State Marco Rubio the authority to determine, beginning April 2, which countries importing Venezuelan oil, directly or indirectly, will face the 25% tariffs. While the order does not explicitly name the countries subject to secondary tariffs, China is singled out, extending the potential impact to Hong Kong and Macau.