Brasília – The United States president Donald Trump announced this Monday (2) through his Twitter account that he’ll restore the tariffs on steel and aluminum from Brazil and Argentina. The measure is a reaction to the devaluation of both countries’ currencies.
“Federal Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies. This makes it very hard for our manufactures and farmers to fairly export their goods,” Trump tweeted.
Last year, after setting up tariffs of 25% on steel and 10% on aluminum, the US government loosened the policy for countries such as Brazil and Argentina. Brazil is among US top steel and aluminum import sources.
Last Friday (29), the American currency rose again, reaching the second highest level since the creation of real in nominal values (not factoring in inflation). The commercial dollar ended the day being sold for BRL 4.241, up 0.58% (BRL 0.025).
Translated by Guilherme Miranda
