Trump reinstalls steel tariffs against Brazil and Argentina

Monday, 02 December 2019 15:18:55 (GMT+3)   |   Istanbul
       

US President Donald Trump has said that he is reinstalling steel and aluminum tariffs on Brazil and Argentina in a tweet early on the morning of Monday, December 2. He suggested that the countries which have been exempted from the Section 232 tariffs introduced in March 2018 “have been presiding over a massive devaluation of their currencies, which is not good for [US] farmers”.

“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 also wrote in criticism of the US central bank.

In August last year, the US granted exemptions from the Section 232 measures for steel imports from Brazil and Argentina, as well as South Korea.