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Trump: will resume tariffs on imports of aluminum and steel from Brazil and Argentina

On December 2, President trump announced that he would resume tariffs on steel and aluminum in Argentina and Brazil, and once again called on the Federal Reserve to cut interest rates and loosen policies. Trump criticized the devaluation of Argentina and Brazil for harming the interests of American farmers.

In a tweet, trump linked his trade policy to the Fed. "These two South American countries have been leading the massive devaluation of their currencies. This is not good for our farmers. So I will restore tariffs on all steel and aluminum shipped from these countries to the United States. "

Trump said the Fed should act so that countries cannot take advantage of a strong dollar by devaluing their currencies. This makes it difficult for our manufacturers and farmers to export their products fairly.

Trump has been complaining about the strength of the dollar and urging the fed to act to weaken it. It is worrying that the United States may bring the world into an era of weaponization of monetary policy.

Brazil's president Bosonaro later responded that he would discuss US tariffs with Brazil's economy minister gaides. There is an open channel to discuss tariffs with President Trump of the United States. We can discuss with President Trump of the United States on the issue of re levying steel and aluminum tariffs.

After the announcement, the Mexican Peso fell to 19.6% lower against the US dollar; the US dollar fell slightly against the Japanese yen, erasing gains in the day; the spot palladium broke 1850 US dollars / ounce, rising about 0.5% in the day, continuing to brush a record high.