Donald J. Trump (@realDonaldTrump) 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. The Federal....December 2, 2019
Donald J. Trump (@realDonaldTrump)
.....Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies. This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen - Fed!December 2, 2019
Brazil is the third-largest exporter of steel to America, points out Bloomberg’s Michael McDonough, so these tariffs could have an impact.
"Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers," Trump wrote on Twitter. "Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries."
Trump imposed 25 percent tariffs on imported steel and 10 percent levies on aluminum imports in March 2018, citing national security concerns, though Brazil and Argentina were granted exemptions.
The president also called for the Federal Reserve to lower interest rates to weaken the U.S. dollar, hoping to limit other countries from taking advantage of a lower greenback.
"The Federal Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies," he tweeted. "This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen - Fed!"
Brazil is the third-largest exporter of steel to America, points out Bloomberg’s Michael McDonough, so these tariffs could have an impact.
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