An­other US tar­iff biff

Mercury (Hobart) - - WORLD -

US Pres­i­dent Don­ald Trump has stunned Brazil and Ar­gentina by an­nounc­ing tar­iffs on US steel and alu­minium im­ports from the two coun­tries in a mea­sure that shocked of­fi­cials.

In a tweet on Mon­day, Mr Trump said the tar­iffs, “ef­fec­tive im­me­di­ately”, were nec­es­sary be­cause “Brazil and Ar­gentina have been pre­sid­ing over a mas­sive de­val­u­a­tion of their cur­ren­cies”.

In fact, the op­po­site is true – both coun­tries have ac­tively been try­ing to strengthen their re­spec­tive cur­ren­cies against the US dol­lar.

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