President Donald Trump announced in a tweet on Dec. 2 that steel and aluminum tariffs would be restored on Brazil and Argentina, effective immediately, as a result of “massive devaluation of their currencies.”
He continued in his tweet, “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.
This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen – Fed! [sic].”
Brazilian President Jair Bolsonaror told Radio Itatiaia, a Brazilian radio station, in response, “I don’t see this as retaliation.
I’m going to call him so that he doesn’t penalize us … and I’m almost certain he’ll listen to us.”
Argentine Production Minister Dante Sica said the announcement was “unexpected” and he was seeking discussions with U.S. officials, according to a Reuters report.
