US President Donald Trump announces restoration of tariffs on steel and aluminium imports from Argentina and Brazil
Steel coils lay in a yard at ArcelorMittal Dofasco steel plant in Hamilton, Canada. Canada hit back at the United States on June 29, 2018, with retaliatory tariffs on $12.6 billion in American goods. June 4, 2018.
"Effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the US from those countries." The source, who was not authorised to speak publicly, rejected the US claim that the Brazilian government was manipulating its real currency, noting the central bank of Brazil had recently intervened to strengthen - not weaken - the real.Argentina is mired in an economic crisis underpinned by inflation, debt, widespread poverty and a plunging currency.
Referencing these tariffs in a subsequent tweet, the president claimed that US markets were "up as much as 21%" since then. Trump’s trade war with China hurt US farmers after Beijing retaliated when the president imposed levies on hundreds of billions of dollars of Chinese-made goods.
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