The Treasury Department announced a general license authorizing U.S. firms to trade Venezuelan oil after Caracas approved a law to improve terms for foreign investors.
President Trump signed an executive order to establish a process to impose tariffs on goods from countries that sell or otherwise provide oil to Cuba. NBC News' Peter Alexander explains the details as Trump also says he will announce his pick for the next chair of the Federal Reserve on Friday.
Bowing to Trump administration pressure, the new legislation improves conditions for foreign oil companies and opens the way to slash the taxes they pay.