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Coup d’état plan in Venezuela orchestrated with the US support

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Atilio Boron is an Argentine sociologist, political scientist, professor and writer. PhD in Political Science from Harvard University, who closely follows the political and geopolitical realities of Latin America and the world. On July 29, one day after the presidential elections were held in Venezuela, I met with Boron, in the lobby of the Gran Meliá hotel in Caracas, where part of the more than 1,000 international and national observers were staying. The electoral observers were invited by different institutions of the Venezuelan State to participate in the democratic event of the year in the Caribbean country.

By the time I conducted the interview, on Monday afternoon, a good part of the streets of the Venezuelan capital were filled with demonstrators, most of them protesting peacefully, demonstrating their disapproval of the result of the electoral elections on the 28th of July, when the majority of Venezuelans who exercised their right to vote elected the current president Nicolás Maduro for a new term (2025-2031). 

However, in parallel, a group of masked people moving in blocks of several dozen motorcycles began to violently take control of the city. Literally, Caracas began to burn and other cities in the country joined the protests, which had stopped being democratic and peaceful and turned into a civic Coup d’état with mercenaries paid by the Venezuelan and international extremist right.

In this context of growing tension and uncertainty, we interviewed the Argentine intellectual, who was also in Caracas as an international observer of the Venezuela election process. Days later I met again with Atilio Boron to complete the interview that was initially truncated. These are some of his impressions about what is happening in Venezuela today, a country under siege and at war, according to our interviewee.

Please, could you give us a balance of what happened in Venezuela the day after the re-election of Nicolás Maduro?

The balance I can give you is that the Carter Center, a renowned American institute, has been in Venezuela for more than two weeks, carrying out an evaluation of the Venezuelan electoral system. The Carter Center has said that the Venezuelan electoral process has the necessary conditions of reliability, transparency and honesty, and that they have not detected anything that has caught their attention, that is, they have not found any flaw in the system that, as of there, allows the popular will to be distorted or twisted. This is what this expert institute in electoral processes has declared about the presidential elections in Venezuela.

On the other hand, we have seen how, in front of more than 1,000 national and international observers – and after a demonstration of unquestionable force of the majority will of the Venezuelan population that achieved the re-election of President Nicolás Maduro with more than 6 million votes – violent and undemocratic sectors of the Venezuelan opposition are plotting an attempted coup d’état, something they have been announcing for some time.

The most fascist and retrograde expression of the Venezuelan opposition, led by María Corina Machado and company, has not only instigated, provoked, promoted, but has financed violent groups that live outside the law to generate chaos on the streets. They take advantage of the other part of the population that – after years of US blockade and suffocation – has suffered and endured needs of all kinds. This part of the population, whose electoral choice was not Nicolás Maduro, is exercising its legal and legitimate right to protest, and for the most part it is doing so peacefully.

However, the leaders of the opposition that came in second place in this electoral race, that is, that is called to be the majority opposition force to the Chavista government, launched a coup plan to ignore the Venezuelan electoral authority, the National Electoral Council (CNE), and to ignore the popular will. Are these the political actors who claim to be the democratic opposition to the government? It is nonsense to think that they really want the best for the Venezuelan people. They have always played at destabilization and unconstitutionally overthrowing the Chavista governments, once again they have demonstrated it, their plan is different. 

In conclusion, an international operation was mounted to ignore the victory of Nicolás Maduro. I have been in the profession for almost half a century and I would dare to say that I have never seen such a coordinated and systematic effort by the right and the international extreme right, supported by the hegemonic media in Latin America and the world. But no one has been able to prove fraud, because there has been no fraud. The Venezuelan opposition obtained a non-negligible proportion of votes, 5 million votes is an important number, but it is located in the historical statistics of votes, both those obtained by Chavismo and by the opposition, represented by 9 presidential candidates who faced each other Nicolás Maduro, although the most prominent opposition figure was Edmundo González, of the Venezuelan extreme right.

Do you consider that what we are seeing in the streets is spontaneous?

Not at all, it is absolutely planned, as I said it is a coup plan, orchestrated and with US support, as is usually the custom and as history has painfully demonstrated in Latin America and other regions of the world. Edmundo González, the buffoon candidate, and María Corina Machado had claimed fraud long before the presidential elections were held in Venezuela. They prepared the ground to make an indisputable fact questionable: the strength of democracy in Venezuela and the anti-fraud protection of the Venezuelan electoral system. 

As I said, the Carter Center, which we cannot say is a Chavista institute, has also said that the Venezuelan electoral process is one of the most complete and secure in the world. There is no way for the results to be manipulated in favor of one candidate or another, since it has countless security locks. Well, but the opposition continued to support that idea, the idea of ​​fraud, to reach this moment with arguments – most of them unfounded – that could light up the streets and give the image they were looking for, Venezuela in flames rejecting Nicolás Maduro. The objective is to erase from the mind the legacy of Chávez, of the Bolivarian Revolution and hand the country over to imperial and corporate interests.

Do you think Western sanctions have had an impact on these socio-economic problems?

I say that the opposition has spread mostly unfounded arguments, because in Venezuela there are real economic and social problems, low salaries, lack of certain goods and services in an important part of Venezuelan society. In this regard, I believe that President Nicolás Maduro was wrong when he said that this was a fight between good and evil. I believe that the Venezuelan president should have called, or summoned, spoken to that sector that negatively affects him in Venezuelan society, but it is a democratic sector and has suffered the effects of the United States economic sanctions. If this sector does not feel included, or feels attacked by the current government, it may take an attitude of not wanting to dialogue and this can have many consequences such as, for example, the increase in Venezuelan migration to other countries and regions of the world, as has already happened. 

However, I want to reaffirm that what María Corina Machado, Juan Guaidó, Leopoldo López and other Venezuelan opposition figures have done, calling for military intervention and increasing economic sanctions against their own country, in the United States or in any other country of the world, the world would have very serious criminal consequences.   

Regarding Venezuelan immigration, it is known that an uncertain number of several million Venezuelans had to migrate to many parts of the world. How have the country’s socio economic problems affected support for Maduro?  

I think migration in Venezuela is a drama. Whether there are three, four or five, no matter how many millions have emigrated, is a drama because people do not want to leave their countries. There are other places where there may be less attachment, but Venezuelans have an enormous attachment to their country and their way of life and, therefore, all those people who are abroad are suffering just as their families are.

Let’s imagine that outside of Venezuela there is the minimum number, 3 million Venezuelans, there are 3 million families with people abroad and that obviously must have affected the electoral result, especially if they have not known how to transfer or communicate that the well-being they are experiencing Venezuela is going to continue. And I believe that one of the opposition’s desires has been precisely to try to stop this economic well-being that had already brought back 150,000 people in the Return to the Homeland Mission, a public policy that was responsible for the return of emigrants. 

In a short horizon, 150,000 people have returned to Venezuela, a significant number, and it is given in the moment of economic recovery that the country was experiencing. I assume that, if this growth continues, some speak of figures of 7% of the GDP, I believe that the probability that more Venezuelans will return is very high and there also the Maduro Government will have to show that those who expelled that enormous number of Venezuelans were the US government with their sanctions and that those who returned them, the Venezuelans, to the country have been the Bolivarian government, because if they are not able to make that understood as well, I believe that this vote can become a rebound effect.

Do you think that if the opposition came to power, it would expel the Chavistas from the State, in line with Western and pro-Western demands?

I believe that the arrival of the opposition to power would be a catastrophe, because the Venezuelan opposition does not defend liberal principles, they do not respect those who do not think like them, they have a patrimonial conception of Power and State, they believe that Power belongs only to them and I think that they would govern as owners of a farm. 

And that is what also makes many leaders say that the opposition cannot win unless it assumes its democratic principles, because it is going to set everyone on fire. That is why even people like Javier Milei have said be careful, be careful because what María Corina Machado implies is crazy, not only for Venezuela, but it is crazy for the entire region.

If it turns out that the opposition won the elections, well, everyone would have to accept it. But of course, since it is not the case that on top of that a person who promises revenge, fire and ashes, on top of that, does not want to recognize the winning result of Nicolás Maduro, these are all elements outside the slightest logic of common sense.

Is Maduro still a popular leader for the Venezuelan people?

Nicolás Maduro is in communion with those 6 million people who voted for him last Sunday, July 28. There is credibility, there is a people absolutely in communion, even those who may have voted for Nicolás Maduro without agreeing with the policy. I think that when they voted for him, they trusted that he was better than the opposition and, therefore, they gave him a vote of confidence.

If this is added to the people who have already recovered levels of proximity, trust, and sympathy, such as those that Commander Chávez had at some point, I believe that it is also a positive element so that in the coming years a new direction that really makes this claim of a new Venezuela very anchored in the 21st century true.

AMERICA

US tariffs on steel and aluminum set to impact $150 billion market

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The 25% tariff on steel and aluminum products imposed by US President Donald Trump’s administration on Wednesday is expected to create upward pressure on prices for approximately $150 billion worth of imports, negatively impacting the profits of American automakers and other companies.

The US imports about one-fifth of the steel it consumes. More than 20% of this import by weight comes from Canada, followed by Brazil at 16%, and the European Union at 7%, with Japan ranking seventh at 4%. Canada is also the largest supplier of aluminum to the US.

Because the direct cost of tariffs falls on importers, this will mean higher costs, especially for manufacturers in the US auto industry.

US-based Wolfe Research anticipates the 25% tariff will drive the price of steel products up by as much as 16% above the 2024 average. Aluminum prices, which are already trending upward, are expected to nearly double.

Nomura Securities research analyst Anindya Das estimates the impact on automakers’ fiscal 2025 operating profits from a 10% increase in steel and aluminum prices compared to the 2024 average. According to this analysis, American players Ford Motor and General Motors will face a hit of approximately 3% to 4% if they cannot pass on their costs through higher prices.

Toyota Motor will experience a smaller decline of 0.5%, while the impact on Subaru, which conducts a large portion of its production in North America, will be around 2%.

Some parts manufacturers affiliated with Toyota bring steel from Japan for use in their US production facilities, and there have been calls for the company to cover the higher costs resulting from the tariffs.

A Toyota executive stated, “Tariffs are a factor outside their control, so we will respond appropriately.”

Japan has pushed to be exempted from the tariffs. “Steel and aluminum products from Japan do not harm the national security of the US,” Cabinet Chief Secretary Yoshimasa Hayashi told reporters on Wednesday. “On the contrary, high-quality Japanese products are difficult to substitute and are necessary to make the US manufacturing sector more competitive, and greatly contribute to US industry and employment,” he added.

According to EU-based Global Trade Alert, the tariffs announced by the Trump administration last month cover a total of 289 categories, excluding overlaps between the steel and aluminum lists. These items, which also include kitchen and sporting goods, accounted for approximately 4.5% of the US total last year, with $151 billion in imports.

China was the largest importer at $35 billion, followed by Mexico at $30.6 billion, the EU at $20.3 billion, and Canada at $17.1 billion. Japan ranked seventh at $7 billion. When EU members were counted as separate countries instead of a single bloc, 27 economies had exposures exceeding $500 million.

To avoid tariffs, steel and aluminum exports previously destined for the US may be sold in other markets instead. Jakob Stausholm, CEO of Anglo-Australian iron ore miner Rio Tinto, said last month that selling aluminum in other markets such as Europe was an option.

Tadashi Imai, chairman of the Japan Iron and Steel Federation and president of Nippon Steel, recently stated that the biggest concern is that the tariffs “contribute to the market collapse caused by China’s excessive exports.”

With China’s economy declining, steelmakers are selling products at low prices elsewhere that cannot be absorbed by the domestic market. If they face higher barriers in the US, these goods could flow to other countries.

The US is also the world’s largest exporter of scrap iron and steel, and rising scrap prices leaving the country are likely to reverberate in the global market.

A representative from Japanese aluminum manufacturer UACJ said, “The short-term impact will be small, but it could be larger in the long term.”

Although the company generally produces products for the US domestically, it imports some products with special requirements from Japan in small quantities. According to UACJ, starting alternative production in the US could take three to four years.

Other companies are turning to completely different materials. Coca-Cola stated last month that it would switch some packaging from aluminum to plastic if the tariffs came into effect.

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AMERICA

Trump signs order for ‘strategic crypto reserve’

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US President Donald Trump, in a move aimed at revitalizing the digital assets sector, has signed an executive order authorizing the federal government to stockpile cryptocurrency assets seized through law enforcement agencies.

According to a post on X by David Sacks, the White House’s crypto and artificial intelligence czar, under the executive order, the federal government will retain bitcoin assets seized by federal law enforcement, which will enter a “strategic bitcoin reserve.”

Sacks added that the reserve “will not cost taxpayers a single penny,” further authorizing the Treasury and Commerce departments to “develop budget-neutral strategies to acquire additional bitcoin, provided these strategies do not incur any additional costs on American taxpayers.”

Sacks wrote about bitcoin, “The reserve is like a digital Fort Knox. The early sale of Bitcoin has already cost US taxpayers over $17 billion in lost value. Now, the federal government will have a strategy to maximize the value of its holdings.”

The order also established a separate “US Digital Asset Stockpile” to include other cryptocurrencies seized by the government. Earlier this week, Trump hinted at the possibility of including tokens such as Ripple’s XRP, Solana, and Cardano, alongside bitcoin and ether, in what he termed the “Crypto Strategic Reserve,” causing the prices of these tokens to rise with investors’ hopes that the US government would enter the market as a major buyer of digital assets.

However, crypto prices fell immediately after Sacks’s post and recovered shortly thereafter. According to CoinGecko data, as of 4:45 PM (presumably local time, though unspecified), bitcoin was trading at approximately $88,000, down 2.8% from the previous 24 hours.

The creation of the reserve and stockpile is part of a broad shift in Washington towards policies aimed at benefiting the crypto industry. It comes ahead of a crypto summit to be held at the White House on Friday, which will be attended by leading figures in the digital assets world.

For supporters, the bitcoin reserve is a chance for the US to participate in the growth of the original cryptocurrency, and many in the market believe that the market is poised to climb higher as Trump pursues a crypto-friendly regulatory agenda.

Yet, there are still many questions about how the reserve and stockpile will operate. For example, some critics doubt that the federal government can cash in its bitcoin holdings without spooking other investors and triggering a sell-off.

Trump first promised to create a crypto reserve during a speech at a major bitcoin conference in July.

Sacks said, “I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his swift action in supporting the digital asset industry. His administration is truly moving at ‘technology speed’.”

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AMERICA

BlackRock to acquire Panama Canal ports in major deal

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New York-based asset management giant BlackRock announced on Tuesday that it will acquire two ports serving the Panama Canal from Hong Kong’s CK Hutchinson, as part of a larger $22.8 billion deal.

US President Donald Trump had threatened to regain control of the Panama Canal, believing that US ships were not being treated fairly due to Chinese influence. This deal could potentially alleviate those concerns.

The ports will be acquired by a consortium that includes BlackRock, as well as Global Infrastructure Partners and Terminal Investment Limited.

Hutchinson’s official statement said the deal was “completely unrelated to recent political news regarding the Panama Ports,” and that the deal was the result of a “fast” process.

BlackRock declined to comment further, but sources say the firm has informed both the White House and Congress about the deal.

According to the *Financial Times* (*FT*), CEO Larry Fink himself informed senior leaders in the Trump administration, including the president, to secure their support for the takeover, in order to overcome possible political obstacles.

A source added that the consortium would not have proceeded with its offer if it believed the US government would not support the deal.

The deal consists of two parts, one of which covers Hutchinson’s 90% stake in the ownership and operation of the Balboa and Cristobal ports in Panama.

This transaction will be conducted separately from the second part, which covers 43 ports in 23 countries, including Germany and the United Kingdom, and 80% of the shares will be sold. Hutchinson’s ports in China are not included.

The remaining 20% stake is held by PSA, a port operator owned by Singapore’s sovereign wealth fund Temasek.

BlackRock did not provide an estimated closing date, likely due to the number of different regulators whose opinions will need to be sought. The deal is expected to be formally signed by April 2.

CK Hutchison, controlled by Hong Kong’s richest man, Li Ka-shing, and his family, has a portfolio consisting of ports, retail, telecom, and other infrastructure. Port operations account for approximately 9% of CK Hutchison’s total revenue of HKD 461.6 billion (USD 593.97 billion) in 2023.

Hutchison Ports, one of the world’s largest container terminal operators, has been managing the ports at both ends of the canal since 1997 under concessions from the Panamanian government.

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