US President Donald Trump announced Monday that he will restore tariffs on 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,” Trump said on Twitter. “Therefore, effective immediately, I will restore the tariffs on all Steel & Aluminum that is shipped into the US from those countries.”
“IT’S HARD FOR OUR FARMERS TO FAIRLY EXPORT THEIR GOODS”
Trump also called on the Federal Reserve to take action to prevent countries which “take advantage of the strong dollar by further devaluing their currencies”. He said that the situation makes it “very hard” for American manufacturers and farmers to fairly export their goods.
Saying that his tariff policy is working, Trump added: “US Markets are up as much as 21 percent since the announcement of Tariffs on 3/1/2018 – and the US is taking in massive amounts of money (and giving some to our farmers, who have been targeted by China)!”