Trump to restore tariffs on steel, aluminum from Brazil, Argentina
President Trump said Monday he would restore tariffs on all steel and aluminum shipped to the U.S. 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 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."
Argentina's Foreign Ministry responded Monday by saying it will begin negotiating with the State Department, according to Reuters. Brazil's President Jair Bolsonaro said he plans to call Trump to try to talk him out of the tariff hike.
.....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!— Donald J. Trump (@realDonaldTrump) December 2, 2019
Trump says he will resume tariffs on steel and aluminum from Brazil and Argentina. Will be interesting to see how Bolsonaro reacts. This is a backfire to his efforts to court Trump. https://t.co/NOoUxeUKI9 pic.twitter.com/3eD9z9wxx4— Shannon Sims (@shannongsims) December 2, 2019