Trump order creates task force on missing American Indians

President Donald Trump listens during an event to sign an executive order establishing the Task Force on Missing and Murdered American Indians and Alaska Natives, in the Oval Office of the White House, Tuesday, Nov. 26, 2019, in Washington.

WASHINGTON (AP) — President Donald Trump is accusing Argentina and Brazil of hurting U.S. farmers through currency manipulation and says he’ll slap tariffs on their steel and aluminum imports.

Trump also is calling on America’s central bank to act to prevent other countries from devaluing their currencies.

Both South American nations were among U.S. allies that Trump had exempted from steel and aluminum tariffs in March 2018.

Hours before he was to depart for a NATO conference in London, Trump tweeted that “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 & Aluminum that is shipped into the U.S. from those countries.”

Trump says the Fed should “Lower Rates & Loosen.”

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(1) comment


Having done business in Brazil, I can say that there are problems to be fixed. Brazil encourages exports and punishes imports. A company can import at low cost up to the amount that they export, but then punishing tariffs kick in. My industry imports a large amount of pig iron from Brazil. Pig iron usages is falling off though. China is buying less scrap steal from the US and Canada so it is cheaper here now. Pig Iron was being used to supplement scrap steel so now there is less demand.

Brazil manufacturers pig iron and aluminum because they both require high levels of electrical energy, and Brazil has a lot of hydro and petroleum based energy to sell.

As usual, the story by the AP does not mention these facts. Never trust the AP for the complete story.

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