Monica Ricks

President Trump says he supports Nexstar's $3.5 billion bid to buy Tecna because it'd be good for competition.

He posted about the proposed merger on True Social.

The deal would still need approval by the FCC, but it's set to be discussed at a Senate hearing on Tuesday about easing the 39% U.S.

ownership cap on TV stations.

Trump's nod, though, means Republican senators are more likely to vote for that cap to be removed.

And it would need to be.

Nexstar has said the combined entity would reach 80 percent of U.S.

households.

Monica Ricks, Bloomberg Radio.

CEOs of both oil companies are discussing long-term opportunities in Venezuela, but are hesitant to commit new capital there, saying political and legal reforms are still needed to protect their investments.

Right now, Chevron's the only U.S.

oil major in Venezuela, but only plans to increase production over the next two years there using existing assets.

Despite President Trump's push, ExxonMobil CEO Darren Woods also stressed changes would take time.

A more positive tone from earlier this month when he called the country uninvestable.

Monica Ricks, Bloomberg Radio.

President Trump threatened Canada with 100 percent tariffs this weekend if it reaches a trade deal with China that would slash tariffs on Chinese electric cars in exchange for lower tariffs on Canadian farm products.

Treasury Secretary Scott Besant slammed it, too.

Besson on ABC's This Week.

A deal between Canada and China could mean months of volatile talks as the U.S., Canada, and Mexico prepare to review their trade pact this summer.

Many goods under that agreement are tariff-free.