Trump, citing U.S. farmers, slaps metal tariffs on Brazil, Argentina

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  • #233118

    Ohio Barbarian
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    • Total Posts: 7,648
    @ohiobarbarian

    WASHINGTON/RIO DE JANEIRO (Reuters) – U.S. President Donald Trump ambushed Brazil and Argentina on Monday, announcing he would restore tariffs on U.S. steel and aluminum imports from the two countries in apparent retaliation for currency weakness he said was hurting U.S. farmers.

    “Effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries,” Trump wrote in an early morning tweet that sent officials from both countries scrambling for explanations from Washington. He added that Brazil and Argentina were “presiding over a massive devaluation of their currencies.”

    In fact, the opposite is true: Both countries have actively been trying to strengthen their respective currencies against the dollar. The real and the peso have been buffeted by weakness partially linked to Trump’s trade battle with China.

    U.S. farmers, who have been hit by the U.S.-China trade war, represent a key demographic for Trump ahead of the November 2020 election. They have watched in vain as the trade war has hurt the competitiveness of U.S. agricultural products, allowing their Brazilian and Argentine peers to get rich off China.

    Full story here. 

    We know now that Government by organized money is just as dangerous as Government by organized mob.--Franklin Delano Roosevelt

    With Bernie Sanders, we have the receipts. --Nina Turner

  • #233132

    RealityRedux
    Member
    • Total Posts: 490
    @realityredux

    It’s as if Trump leans back in his expensive comfy desk chair and hurl darts at a dart board to determine what’s next with his own chaotic economic policy. His art of the clusterf**k.

    Formally RealityCheck

    • #233136

      Ohio Barbarian
      Moderator
      • Total Posts: 7,648
      @ohiobarbarian

      @realityredux Someone told me the other day that saying Trump had no foreign policy was dangerous. I think the fact that he has no real foreign policy is what’s dangerous. A tariff on Argentina I could understand–they just elected a social democratic government–but Brazil is headed by his Fascist buddy Bolsinaro, so there’s nothing ideological here.

      Sure, Trump’s trying to play to his rural base, but he could do that without slapping tariffs on Brazil. Your explanation is certainly no sillier than that of anyone else, and probably a lot less silly than that of many.

       

      We know now that Government by organized money is just as dangerous as Government by organized mob.--Franklin Delano Roosevelt

      With Bernie Sanders, we have the receipts. --Nina Turner

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