OREANDA-NEWS. US President Donald Trump said on Monday that he would renew duties on Argentina and Brazil on imports of steel and aluminum from these countries to the United States due to the fact that these states are pursuing a policy of devaluation of national currencies. He made that statement on his Twitter page.

"Brazil and Argentina are at the head of a large-scale devaluation of their currencies, and this is not good for our farmers. In this regard, I will renew duties on steel and aluminum that are imported to the United States from these countries", the American leader wrote. He noted that the decision takes effect immediately. Trump did not specify what kind of duties are in question and how many percent of the cost of production they will make up. The president also called on the US Federal Reserve to act in such a way that "countries no longer benefit from our strong dollar, further devaluing their currencies".

The United States has imposed duties on steel and aluminum in the amount of 25% since March 23, 2018. They have since taxed steel products from all countries except Australia, Argentina, Brazil and South Korea. Duties of 10% applied to US imports of aluminum from all countries except Australia and Argentina. For quotes from countries excluded from duties, with the exception of Australia, import quotas apply.