Steel News

Trump Promises Section 232 Tariff on Brazilian, Argentinian Steel 

12/2/2019 - Accusing Brazil and Argentina of currency manipulation, President Donald Trump on Monday said he would reinstate Section 232 tariffs on steel and aluminum from those countries, according to reports. 

“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 tweeted. 

Alacero, the Latin American steel association, disputed Trump's assertions and said the move could ultimately backfire on the U.S. 

"Alacero reinforces that the decision expressed in the president's Twitter message harms the economy of his own country since the steel industry chain in the United States needs steel products that are not always produced internally, depending on partner countries such as Brazil and Argentina," the association said.

"Such positions of the US government in the face of current international trade conflicts bring an even more serious impact to Latin America, whose economies need stability more than ever to strengthen their growth plans for the immediate future."

You can read more here, here and here.