President Trump reinstates tariffs on steel and aluminum from Brazil and Argentina, citing the negative impact of currency devaluation in those countries on American farmers
. Those tariffs, implemented under the guise of national security measures, prompted outrage from America’s closest allies and major trading partners. Some economists note that tariffs fail to distinguish between America's trade allies and countries such as China, which the U.S. has accused of illegal trade practices, and with whom Trump has been embroiled in a monthslong retaliatory tariff spat.
In a series of tweets, Trump also noted Monday that the stock market is up"as much as 21% since the announcement of Tariffs on 3/1/2018 - and the U.S. is taking in massive amounts of money !" He also repeated his desire for the Federal Reserve to lower rates, blaming the central bank for making it"very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen - Fed!", which is traditionally only implemented in times of severe economic distress.
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