President Trump Intends to Restore Sec 232 Steel and Aluminum Tariff Duties to Argentina and Brazil Imports

Posted on Dec 4

12/04/2019

We announced earlier that the President intended to restore duties on all steel and aluminum products imported from Brazil and Argentina in response to both countries devaluing their currencies which was hurting U.S. farmers.

As of this writing, no official announcements or orders have been made, and we will continue to keep you apprised of any future developments.

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12/02/2019

As reported in the news early this morning, President Donald Trump announced that the US will “restore” steel and aluminum tariffs on imports from Brazil and Argentina, citing a “massive devaluation of their currencies.” In an early morning tweet, the President stated 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,”. He also called on the Federal Reserve to “act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies.”

Formal notices of the tariffs were not immediately announced by the Treasury or Commerce Departments or the Office of the US Trade Representative.

Both Brazil and Argentina were exempted from 25% steel and 10% aluminum tariffs last year when Trump was attempting to avoid a trade war with those countries.

Please contact your V. Alexander account team with any questions and follow us on our website www.valexander.com for updates on this and other topics.