Trump says he will restore tariffs on Brazil, Argentina metal imports
US President Donald Trump said yesterday that he will immediately restore tariffs on US steel and aluminum imports from Brazil and Argentina. “Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers.
Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries,” Trump said in a tweet. Trump also urged the Federal Reserve to prevent countries from gaining an economic advantage by devaluing their currencies.
“The Federal Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar,” Trump tweeted. “Lower Rates & Loosen - Fed!”, he said. Trump has repeatedly urged the Fed to lower rates to below zero, arguing that negative rates in Europe and elsewhere give those countries a competitive advantage.
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