President Donald Trump appeared to invent a new weapon of economic statecraft on Monday by threatening what he dubbed “secondary tariffs” on countries that buy oil from Venezuela to choke off its oil trade with other nations.

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

The White House over the weekend indicated that it will narrow the scope of its April 2 tariff actions against countries across the globe.