Trump says he will restore tariffs on Brazil, Argentina ‘immediately’

Donald Trump wearing a suit and tie US President Donald Trump gestures as he speaks during a

Donald Trump wearing a suit and tie US President Donald Trump gestures as he speaks during a"Keep America Great rally at Sudduth Coliseum at the Lake Charles Civic Center in Lake Charles Louisiana

President Donald Trump is reinstating tariffs on steel and aluminum from Argentina and Brazil, nations he criticized for cheapening their currencies to the detriment of USA farmers, and again called on the Federal Reserve to loosen monetary policy.

Brazilian President Jair Bolsonaro, pictured with Donald Trump at the White House last March, said Monday he would call Trump about his tariff tweet and was "almost certain" the USA president would listen.

The president also said that the Federal Reserve should lower rates in order to devalue the US dollar, which would make USA products more competitive on the global market place. Trump says that by these and other nations deliberately devaluing their currencies, "this makes it very hard for our (manufacturers) & farmers to fairly export their goods", he wrote. Macri lost his re-election bid in October and will leave office on December 10.

Argentina is mired in an economic crisis with rampant inflation, deep indebtedness, widespread poverty and a currency that has plunged under the leadership of President Mauricio Macri, who came to power in 2015 with promises to boost South America's second-largest economy.

"Lower Rates & Loosen - Fed!" he admonished the independent agency. The country has been in the grip of a recession for over a year, with the peso in a downward spiral.

"Their economy is not comparable with ours; it's many times bigger".

He has also urged the US Central Bank to cut interest rates to weaken the dollar.

The Brazilian real was little changed at 4.24 per USA dollar at 7:30 a.m.in NY.

He also has earmarked almost $30 billion for farmers to help make up for their losses.

In August a year ago, he gave South Korea, Brazil and Argentina targeted relief from quotas imposed on inbound steel shipments to protect USA producers.

Domestic demand has slumped along with the energy sector as drillers pull back on purchases of steel pipe.

The U.S. has imported about 3.8 million metric tons of steel from Brazil so far this year, most of which are slab, according to U.S. Census Bureau data. It has laid off workers and shut down some of its blast furnaces. Shares of AK Steel are down 10%, even as the S&P 500 sets record highs repeatedly.

Notícias recomendadas

  • Trucks and Trailers Covered in Snow After Winter Storm in Minnesota

    Trucks and Trailers Covered in Snow After Winter Storm in Minnesota

    As of 12:30pm on Sunday, more than 500 flights were cancelled across the country, according to flight tracking site FlightAware . A day earlier in Chamberlain, South Dakota, nine people were killed when a plane crashed during blizzard-like conditions.
    Commuters face month of delays as 27-day rail strike starts

    Commuters face month of delays as 27-day rail strike starts

    South Western has become the focal point now in the long-running dispute over guards and driver-controlled operation of trains. Passengers have also been warned that engineering works will hit among the UK's busiest rail traces over Christmas.

    Town braces for first winter storm

    There were a number of accidents reported around Western NY and the Finger Lakes on Sunday morning due to icy roads. New York City is forecast to receive up to 4 inches of snow mixed with rain into Monday, Brink said.
  • Doctor Who's is set to RETURN on New Year's Day

    Doctor Who's is set to RETURN on New Year's Day

    America announced Monday that the second season of the time travel show to star Jodie Whittaker will premiere 8 p.m. Jodie Whittaker will be back as the titular Time Lord, marking her second season as the 13th Doctor.
    Woman rescued after 12 nights stranded in the Australian Outback, 2 missing

    Woman rescued after 12 nights stranded in the Australian Outback, 2 missing

    They dug a hold underneath the auto to shelter from temperatures of 40C during the day and slept in the vehicle by night. In January, German tourist Monika Billen was found dead near Alice Springs after she disappeared while on a hike .
    Syed Mushtaq Ali Trophy: Top five bowlers and batsmen

    Syed Mushtaq Ali Trophy: Top five bowlers and batsmen

    Chasing the target of 181, Tamil Nadu also reached a similar stage of Karnataka as they lost their two wickets at only 37 runs. Karnataka bowlers then produced a fine display of death over bowling to restrict Tamil Nadu to 179/6 in their 20 overs.
  • Disney+ Cyber Monday Deal Announced

    Disney+ Cyber Monday Deal Announced

    Disney Plus is the hot new streaming service in town and if you haven't subscribed to it yet, you can do so this Cyber Monday. At $59.99 for a full year, that works out to an average of $5 a month, compared to the regular price of about $7 a month.
    Former Auburn quarterback, Heisman winner Pat Sullivan dies

    Former Auburn quarterback, Heisman winner Pat Sullivan dies

    Never before in the history of the Southeastern Conference had undefeated teams met so late in the season, AuburnTigers.com said. He played four seasons with the Falcons and split one season between the Washington Redskins and the San Francisco 49ers .
    One dead, 16 injured in Kingston Highway 401 pileup

    One dead, 16 injured in Kingston Highway 401 pileup

    Highway 401 is open again through Kingston, Ont., after a fatal collision Sunday afternoon involving between 30 and 40 vehicles. Curtis Dick told CBC News that one person had died in the pileup, which involved at least one tractor-trailer.
  • Fife avoids TSB hitlist of branch closures

    Fife avoids TSB hitlist of branch closures

    Which? said almost 3,400 bank branches have been closed since January 2015, not including the 82 that are set to be lost at TSB . Following the closures, 65% of the country's population will live within four miles of a TSB branch, the company said.
    Flight cancellations pile up as storm heads east in the US

    Flight cancellations pile up as storm heads east in the US

    Flight cancellations and delays mounted through the day, most in airports in San Francisco, Newark, and Boston. Another system was forecast to develop in the mid-Atlantic Sunday, moving into a nor'easter by Monday.
    Global stock tick on upbeat Chinese factory report, hope to talk trade

    Global stock tick on upbeat Chinese factory report, hope to talk trade

    Asian stock markets rose Monday after Chinese factory activity improved ahead of a possible USA tariff hike on Chinese imports. European stocks are expected to post modest gains at open, with pan-European Euro Stoxx 50 futures were up 0.19%.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.