Trump reimposed metal tariffs on Brazil and Argentina for 'devaluing their currencies' by lisettevoytko
Thursday after the country’s economic minister said he wasn’t worried about the exchange rate.
Trump also called on the U.S. Federal Reserve to prevent “many” countries from devaluing their currencies by taking “advantage of our strong dollar.” Meanwhile, steel stocks are up in premarket trading, with AK Steel Holding Corp up 2.5%, U.S. Steel Corp. up 1.2%, and Steel Dynamics showing a modest gain., Brazil and Argentina have benefited from Trump’s China trade war by replacing the U.S. as a top exporter of farm goods.Whether the Fed will make another rate-cut decision based on Trump’s imploring. Their next meeting is scheduled for December 10 and 11.
This latest tariff move is the first time Trump has directly tied tariffs to currency value fluctuations, according to
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