Farms.com Home   Ag Industry News

President Trump threatens tariffs on Brazil and Argentina

President Trump threatens tariffs on Brazil and Argentina

The countries’ devaluation of currency hurts farmers, the president said

By Diego Flammini
Staff Writer
Farms.com

President Trump wants to reinstate tariffs to steel and aluminum imports from two South American countries.

Steel and aluminum products from Brazil and Argentina could face the import duties, the president said in a series of tweets Monday.

“Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers,” President Trump tweeted. “Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.”

In June 2018, President Trump placed a 25 per cent tariff on steel and a 10 per cent tariff on aluminum from multiple countries.

Any formal notice of tariffs would have to come from the Treasury or Commerce Departments, or the Office of the U.S. Trade Representative.

When a country devalues its currency, it “makes it hard for our manufacturers & farmers to fairly export their goods,” the president added.

Brazilian officials are confident they can come to a resolution with President Trump before any tariffs are implemented.

“I’m going to call him so that he doesn’t penalize us … Our economy basically comes from commodities, it’s what we’ve got,” Brazilian President Jair Bolsonaro told reporters Monday, Reuters reported. “I hope that (President Trump) understands and that he doesn’t penalize us with this, and I’m almost certain he’ll listen to us.”

Farms.com has reached out to U.S. farm groups for comment.


Trending Video

US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops

Video: US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops


A dry August and a “flash drought” in the ECB (Eastern Corn Belt) the driest top 10 to 15 years in 150 to 160 years (Ohio the driest in 133 years) plus disease is taking a bite out of the 2025 U.S. corn and soybean crops.
It's going to be an early harvest. This could be the start of the 89-year drought cycle that may have been delayed until 2026 as La Nina maybe returning.
The USDA September crop report is all about record corn ears and record soybean counts but the October USDA crop report will be about pod and ear weights.
Stats Canada reported higher forecasts for the 2025 Canadian Prairies all wheat and canola crops vs. last year based on satellite imagery but are they overestimating production?
The 2025 Great ON Yield Tour and Quebec crop tours are projecting corn and soybean crops below the 10-year average.
China's Vice Commerce Ministry Li Chenggang visits Washington this week as we continue to connect the dots is a positive sign towards a China/U.S. trade deal. But will U.S. farmers have a winter without China as they buy more soybeans from Uruguay/Argentina? U.S. Northern Plain soybean farmers are seeing red with flat prices at $8.97/bu!
U.S. corn exports on record pace up 99% vs. last year.
Fund short covering continues in corn futures bottom is in!