United States President Donald Trump ambushed Brazil and Argentina on Monday, announcing tariffs on U.S. steel and aluminium imports from the two countries in a measure that shocked South American officials and left them scrambling for answers.
In an early-morning tweet, Trump said the tariffs, “effective immediately,” were necessary because “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers.”
In fact, the opposite is true: Both countries have actively been trying to strengthen their respective currencies against the dollar.
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