President Trump on Monday said he’s immediately restoring tariffs on US 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,” he said in an early morning tweet. “Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.”
The president also took a swipe at the Federal Reserve.
“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 said in another post. “This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen – Fed!”
Trump has repeatedly urged the Fed to lower rates to below zero, saying negative rates in Europe and elsewhere give those countries a competitive edge.
He also touted the economic boom since imposing sweeping tariffs on steel and aluminum imports last year.
“U.S. Markets are up as much as 21% since the announcement of Tariffs on 3/1/2018 – and the U.S. is taking in massive amounts of money (and giving some to our farmers, who have been targeted by China)!” Trump wrote.