Commodities - DECEMBER 2, 2019

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President Trump issues steel and aluminum tariffs to help U.S. farmers

by Andrea Zander

President Donald Trump has announced plans Monday to resurrect tariffs on all steel and aluminum imports from Brazil and Argentina, claiming that the devaluation of their currencies was hurting American farmers.

Is the United States heading into another trade war?

His tweet said, “Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers. Therefore, effective immediately, I will restore the tariffs on all steel and aluminum that is shipped into the U.S. from those countries.”

In response to President Trump’s steel and aluminum tariff proposal, Brazil’s president, Jair Bolsonaro, said in a local radio interview at Radio Itatiaia, “I don’t see this as retaliation …  I’m going to call him so that he doesn’t penal

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