President Donald Trump signed an executive order on Friday imposing new economic sanctions on Cuba, targeting individuals and entities operating in broad sections of the island's economy including energy, defense, and mining sectors.

The Cuban government strongly condemned the new measures, characterizing them as "collective punishment" and "coercive" sanctions. Cuban officials organized a large May 1st procession outside the American embassy in Havana, with participants vowing to "defend the homeland" in response to the increased economic pressure.

The new sanctions are designed to increase pressure on foreign financial institutions by threatening to restrict their access to U.S. markets if they continue conducting business with Cuban government entities. This represents an escalation of the Trump administration's broader policy of economic pressure on Cuba.

The timing of the sanctions comes as the Trump administration has increased pressure on Latin American governments, including efforts to oust Venezuelan leader Nicolás Maduro earlier this year. The measures signal continued U.S. opposition to the Cuban government's policies and alignment with Venezuela.

Speaking at a Palm Beach forum, Trump made remarks about Cuba, though the specific context and tone of his comments regarding U.S. involvement with the island were not fully detailed in official statements. The sanctions represent the latest step in the administration's tougher stance toward Cuba compared to the previous administration's approach of diplomatic engagement.