Trump Says U.S. Will Impose Metal Tariffs on Brazil and Argentina

The president, in a move that would shatter previous agreements with those countries, accused them of weakening their currencies and hurting American farmers.

Comments: 196

  1. Yea. hurting American farmers. All those tons of soybeans, how being grown in Brazil, because Trump started a trade war. But now it's those other markets that are "hurting" the American farmer, who today is mostly a factory, industrial-scale operation.

  2. @matty - I agree with you on the fact that commercial farming is nothing less than a factory in operation at the dawn of the Industrial Era (when Thomas A. Edison never slept!). Commercial farming = a low quality food product + cheap raw materials + unsustainable business models. It has no business in being in business anywhere in the world.

  3. @Sightseer I agree, but the point I was making is blaming the "new market" for the hurt bestowed on the American farmer, whether corporate or not (but probably corporate) is wrong. The blame for those new markets rests at the foot of Der Trumpf the person who started the trade war.

  4. Trade wars easy to win quoted the US President. The proof of the pudding is in the eating and so the Chinese prefer Brazilian beans without tariffs. So US farmers have been sacrificed to help US industry.Fair exchange no robbery as the saying goes?

  5. Trump's brand of revenge politics has poisoned the world and now is hurting his constituents.

  6. @Bill More liberal, leftist, socialist nonsense. Trump’s constituents are not mega farm conglomerates. They are people who live middle class lives, not in gated/ privileged communities, like those who dictate how the rest of us should live.

  7. @Olivia If you think his trade wars are going to affect those in gated/privileged communities, as opposed to the middle class, you're sorely mistaken. For the average American household, the effect of the trade war has been an increase of $460 this year in cost of goods before this latest addition of Brazil and Argentina. Trump's farm bailout is now twice the cost of the auto bailout, $28B and counting; those are our tax dollars being squandered by his ineptitude.

  8. @Olivia Your comment is appalling and a non-sequitur. My comment has nothing to do with socialism, is not leftist, nor is it leftist. I'm frankly pro-business. My comment has everything to do with mercurial, rudderless, and feckless leadership which resulted in our loss of position as top dog throughout the World. Trumps tariffs cost average Americans and have not spurred on our steel industry as he promised. Our coal industry he promised to revitalize just had its' largest bankruptcy in history. Our farmers are receiving more subsidies than ever and are not planting as the spigot was turned off when he imposed tariffs on China. He has in fact instituted revenge diplomacy and politics, his diplomacy and negotiations are bankrupt and that's where we are today and it is not helping average Americans.

  9. Trump is causing a big economy problem which at the end US will pay the bill. it would be easier handle the situation with China in a way that could be favorable for US and not allow the second biggest ( or might be the first ?) open new markets with different countries. who will pay the price ? Americans!

  10. He has to blame somebody and it won't be himself.

  11. China is our economic enemy that could easily turn into another kind of enemy.

  12. @Olivia Why seeing China as enemy at all? Outside of NATO, most country’s opinion of China isn’t any less than that of the US and China certainly isn’t as adventurous as the US on imposing regime change and sanctions.

  13. What this will accomplish is turn South America completely toward China, which has already been happening at an accelerated pace. That and more violence and chaos, now in the two largest democracies in the region.

  14. When we think of American farmers we picture actual farmers, not the industrial conglomerates that is the reality. Sad.

  15. Trump's alarm clock says: What can I do to annoy or offend somebody this morning?

  16. @Tom His second alarm clock says "What can I do today to please Putin?"

  17. So the United States under President Trump wants to have ongoing trade disputes with China, Europe and Latin America? Leaving aside for a moment the merits of each case, there is something to be said for picking your battles or at least picking off your opponents one by one. This is insane.

  18. Hey. We’re still good with Australia. For now...

  19. "It is unclear exactly what prompted Mr. Trump’s message." Try impeachment.

  20. Note to General Bone Spurs: Argentina and Brazil governments have to answer to the people in there countries. The Trade War with China will have consequences for US businesses that are dependent on that market, if you don't have the belly for the fight, you're not as tough as you claim to be on Trade.

  21. Of all the reasons to do this to Brazil I would think currency manipulation would be the least egregious... This is definitely a wag the dog moment.

  22. This has nothing to do with steel and aluminum. This is a revenge play to punish Brazil and Argentina for exporting agricultural products to China. Trump is getting a lesson in how international trade works. Cut off one supply and another supply steps in to fill the void. Trump thinks he can control the world. He cannot. He thinks that because we are the largest economy, all other nations will bow to his will. They will not. He thinks his executive orders can dominate international exchange rates. They cannot. But he sure can cause a lot of trouble

  23. @Bruce Rozenblit That sounds too logical. The Mad Hatter is not logical, just corrupt.

  24. @Bruce Rozenblit trump's attempt to destroy China's economy backfired, depressing the price of copper, blowing a hole in Chile's budget and sending Chile's economy toward recession. All it took was a spark, and Chile is in shambles and Pinera's agenda is finished . trump seems determined to also bring down Bolsonaro, who unbelievably looks almost sane compared to trump. Macri and Pinera are toast, and Bolsonaro will be next to fall. Kirchner and Madero must be toasting each other while plotting how to fill the power vacuum trump is creating across South America.

  25. @Bruce Rozenblit - The man thrives on causing trouble - it's his fuel. He can't let a news cycle go by without creating a crisis - it gets him the attention he craves. If it hurts someone, even his supporters, all the better. He will lie to them, blame someone else - they eat it up and ask for more. He's a bored, malicious juvenile, playing games with other people's lives for amusement. I'm hoping the hamberders, steaks and KFC come to the rescue. And no, I'm not ashamed of myself for writing that.

  26. Think of all the quid pro quo opportunities Trump just created. Everything Trump does should be viewed through the lens of "what's in it for Trump." 1) Brazil - "I would like to remove the tariffs, talk to Rudy" 2) U.S. Manufacturer - "If your company needs an exemption to the steel tariff, talk to the Wilbur Ross." 3) U.S. Farmers - "If you want me to keep the pressure on Brazil's farmers, I need your votes and support."

  27. American farmers, at least big farmers, will support Trump as long as he gives them money, tax money, to protect them from the consequences of his policies like tariffs. I guess when the money goes into your pockets it isn’t socialism or a handout. Whether you think “socialist” Obama helping the auto industry was a good idea or not, the money was a loan, which was paid back.

  28. There are many reasons Brazil's currency is in crisis. I doubt Bozonaro would purposely betray the man he once declared his love for.

  29. Never textiles, though, isn't that right Donald. We never see any tariffs imposed on your clothing line - manufactured in China, Mexico, and Argentina, do we.

  30. Given that we struck a trade deal with these countries for aluminum and steel, where are our manufacturers now going to buy those products? How will they, if no other markets are readily available, raise their prices? No doubt someone could have created a well designed strategy, no doubt Trump cannot. A question for Republican senators from the rust belt and farm belt states, how long will it take you to see you must vote for impeachment in order to save your donors?

  31. New "Trump tariffs" on steel and aluminum imports from Brazil and Argentina? Totally ridiculous "I can do anything I feel like" behavior. First, it's using more crazy "national security" justifications to unilaterally raise tariffs. Second, it's blatant politically motivated action by the president, aimed at improving his personal chances for reelection (e.g., votes of "American farmers"). Talk about abusing executive power in search of personal gain! Third, I don't think Trump understands (or else he deliberately misleads) how foreign exchange rates fluctuate based on currency markets vs. official government actions to "manipulate" rates. And finally, this time he's picking on the two largest countries in South America, with whom we normally have very good relations -- Brazil and Argentina will have a few choice words for Senhor Trump and Señor Trump! But on the main point, abuse of power, what more evidence do we want to argue impeachment?

  32. Dear Wharton, Who is the PhD Economics professor who gave Trump a passing grade? Asking for a friend.

  33. Isaac Newton, it is better for you to take notice and voluntarily amend your law to F=ma/2.

  34. Brazil and Argentina are now suppling the soybeans and wheat to China that U.S. farmers used to. Brazil is burning down large areas of the Amazon forrest to do so. This paradigm will be with us long after Trump is gone. And the U.S. taxpayer bailouts of farmers hurt by Trump's actions will not go on forever. U.S. farmers bought a bunch of "promises" (incoherent ramblings) from a well documented liar and con artist in 2016. Will they be so gullible in 2020?

  35. @Will. I believe the answer to your question is "yes". I've not seen a single interview or written piece with any farmer indicating they are taking their support away from the con-artist in chief. Never assume they understand the true meaning of "for whatsoever a man soweth, that shall he also reap.”

  36. Aren’t a lot of these small, independent farmers evangelicals, awaiting the so-called Rapture? If so, perhaps they will continue to support Trump simply because they see his impenetrable and hurtful policies as just another step along that “hoped-for” outcome. Never mind about the country, the planet, or the rest of us.

  37. Yes they will. Fox and Sinclair are their news sources.

  38. Five in the morning, Trump tweets the imposition of taxes on Americans and nobody knows why, roiling markets and setting the US on another trade many it that now? That’s how Trump uses the power delegated to the President.

  39. "and nobody knows why" No, we all know why. Carl Icahnfireyou wanted another insider trading opportunity, and the loser's more than happy to roil the "market" (casino) to make one for 'em. Of course they're against gun control—they are all for bump stocks! Or at least stock bumps...

  40. @Yeah Does anyone know if Mr. Trump's advisers and election contributors - who happen to be big investors - have shorted the market on Friday?

  41. @Yeah Perhaps if congress would do their job and get a trade deal done? Trump would have to do these things. Meanwhile, Nancy Pelosi and the other Democrats are in Spain at a climate conference. You can decide, which is more important.

  42. ".....hurting American farmers." If the President hadn't started these trade wars in the first place, our farmers wouldn't be suffering as they are now. Unfortunately, these farmers and millions of other Americans continue to cast a blind eye and support Trump no matter the actions he takes and the adverse ramifications that result.

  43. @cherrylog754 They support him as long as he "subsidizes" their losses due to the trade war (alos known as socialism). He claims that this support is for the short term, and his true believers still think this will happen 2 years later despite the facts disproving all of his theories. My tax dollars at work allowing Trump to buy his votes.

  44. @cherrylog754 Given the dreadful food produced by famers, subsidized by taxpayers, and then presented to school children in the USA , the substandard fruits and veggies (and now we don't even grow avocados) in the grocery store-- part of the 280 billion in food that gets tossed annually... the destruction of waterways by various dairy farmers-- frankly Virginia... I wish I had a veggie plot. Suffering farmers or suffering shareholders (about whom I don't care a whit)? Let's say what is really true. I know nothing about farm bills and who benefits in the US, but it's quite likely it's a scam l(as it is in Poland) benefitting the rich and powerful.. Glad to hear the stock market is down. (It produces nothing -- if you get my drift....)and we are addicted to its principals and think it's something real. Stop worshipping Wall Street and Amazon, etc.

  45. @cherrylog754 As some farmers have observed China has moved to find new sources of the agri products that they need. It will be hard if not impossible to get them to re-establish the previous supply chains they had wit US farmers especially if they feel that those will always be vulnerable to trumps irradical behaviour. We may all be eating soty cakes her routinely in the future.

  46. Brazilian and Argentinian currencies are in free fall because of their terrible economies. The only way to raise their value is to reduce the outstanding currency. The only way to do that is to use hard currency to buy it back or to issue bonds (which no sane person would buy).

  47. The President's Bad Neighbor Policy against Latin America revs up. This move suggest that U.S support for democratic change in Venezuela is for show. We can't work with Latin America effectively when we call their citizens "rapists and murderers", cut off aid to Central American countries which desperately need it and refuse to grant TPS to Venezuelans whom we claim to support. As the article indicates Argentina and Brazil have taken away much of our agricultural exports to China because of Trump's agricultural tariffs, which continue to impoverish America's family farmers. If this goes on much longer, only BigAG, which gets a good slice of the compensatory subsidies, will survive Trump's presidency. The last time we had such a miserable policy toward Latin America was the early 1900s. Then SecState Philander C. Knox called it "Dollar Diplomacy".

  48. This is going to end badly. You can't continually beggar your neighbors to increase your exports.

  49. @Glenn Argentina has a very closed economy to begin with. And they're poor now. Their imports from the US aren't likely to increase much in the near future.

  50. Big win for Russian Aluminum. Sanctions and Tariffs removed by Trump.

  51. Mr. President: Stop pretending that you didn't cause this mess. You want farm votes? Let's bring back $12 beans. Then we'll see.

  52. Another incoherent policy decision from our President. No real facts needed to implement the policy save for a 5am twitter rambling. Combine that with the belief that the tariffs will be paid by Brazil and Argentina (and then given to farmers as welfare), and you have Trump's "winning" formula. This is truly scary how he fools his followers.

  53. It is worth noting, Argentina is currently in transition. Trump's old buddy, center right Mauricio Macri lost the election. A left wing, Peronist new president, Alberto Fernandez, assumes office on December 10th, 2019 So does, incredibly, as his V.P., Cristina Kirchner, who is facing multiple corruption charges.

  54. @La Rana Worth noting that two countries were targeted and that the other country is Brazil which is run by what the media have termed a mini Trump.

  55. @Louis del Valle I was just in Argentina. I see no connection in that regard between the two countries. Argentina's economy is hurting, and the election of Fernandez and Christina is not helping in the minds of the business community or the public in general, outside of the ghettos.

  56. @Garth I never heard the shanty towns around large cities in Argentina referred to as ghettos. The slums are called "villas" for short, when referring to a"villa miseria".

  57. More tax increases on Americans, courtesy of Trump. To Trump lovers and other trade haters, please note that tariffs on imported goods are paid for by consumers in higher prices. All the winning. It’s hard to take.

  58. Congress which has the constitutional authority to impose tariffs does nothing

  59. @dave, why should they? tRump gets fleeting thoughts and acts on them. Congress uses logic.

  60. Trump is unable to negotiate a trade deal with China-he keeps teasing that one is about to be signed.This is another lie.Argentina and Brazil,are supplying China with soybeans because Trump is trying to punish China with tariffs.They in turn are trying to get to Trump by withholding their large imports of American soybeans.Trump is caught up in a trade war which is widening and will sooner rather than later crash the economies of the United States and other important trading partners.

  61. I was in Argentina at the time of their recent election. I don't believe that the government has intentionally weakened their currency, the peso. However, on the other hand I don't believe that anyone in the public believes that the official rate of about 60 pesos to the Dollar represents the true value currency. Service people there were very happy (big smiles!) to receive tips in crisp, new US dollar bills.

  62. So trump's on the hopper this morning with his phone being presidential... If he hadn't started a trade war our farmers, manufacturers, and fishermen would be in a better place, and so would much of the country. He must have just figured out where China is getting it's veggies. President Stable Genius...

  63. China is never going to let themselves become reliant on the US farmer again. They would be fools to do so. Currency is a third order issue.

  64. @deepharbor , a lot of countries are turning away and developing trade and other relations that leave us out. Even if we can restore sanity and responsibility after Trump is gone, there's the chance we could end up in four or eight or twelve years with another despot--maybe even worse than Trump, maybe as mean and crazy, but smart. The loss of trust as dependable in alliance of any kind will isolate us perhaps permanently.

  65. 'Trade wars are good' said the boy-in-chief. Look how well we are doing with China.

  66. Gee, I wonder if Trump's trade warr with China has anything to do with this? Trump is only capable of thinking in one dimension at a time. He has no clue that in a complex web of interactions, when you disrupt on lynchpin it will set off reactions throughout the system. And i thought that he promised us that isolationism was the answer to everything? And that he would negotiate the "best deals" of any president ever? Yet, 40% of our citizens support him, and think that he's a better president than Lincoln? Who wins from all of this? Russia and China, of course!

  67. He has absolutely no idea what he is doing. None at all, and that gets clearer and clearer every day.

  68. More...taxes for us, yay!

  69. For every accidentally good thing he does, he does 10 or more bad things deliberately. Let's not fan the coals by paying more attention to his tariff tirades and trade gimmicks.

  70. Soon there will be a takeback with a "great new deal with Argentina and Brazil."

  71. Enforcing a fair playing field when it comes to global trade is not easy, and I am happy to see a US President actually take a stand against unfair trade practices.

  72. Aluminum is not a major export of the two countries, both export 800-900 million dollar worth per year, which is a bit more that 1% of Argentinian export and under .5% of Brazilian. The whole premise is questionable if not absurd. Countries can intervene to achieve some exchange rate or leave it totally to markets, and this is normal activity that is not prompting sanctions. But under "America First", we should think what does it imply for American consumers and businesses. Retail consumers will not notice much. Aluminum producers will not notice much either since these are modest exporters. Importantly, there is no increase of domestic production in sight, because that would require a new source of cheap electricity, say, a big hydro project. But businesses using aluminum must be under strain as aluminum sanctions revolve in all directions and vary frequently.

  73. @Piotr Berman I count at least 7 facts in your comment that never even occurred to our President. Piotr for President 2020.

  74. This is sheer lunacy, and once again shows that Trump does not understand trade. The call for tariffs is also another distraction tactic in Trump's arsenal. More of these will surface in the coming months.

  75. One assumes the Russians desire to further increase trade with Brazil and Argentina.

  76. So we open up to Russian oligarchs while worrying about poorer southern countries that pose no threat?

  77. The only question left unanswered is whether trump's caddy suggested this to him on the seventh hole on the thirteenth tee box.

  78. @RNS Unlikely that Trump's caddy or anyone's caddy would be this ignorant of basic high school economics. Caddies are not dopes. More likely it was the stable genius himself.

  79. Another example of how Trump is a part of the problem, not part of a solution.

  80. The U.S. doesn't collect massive amounts of money from foreigners when it imposes tariffs. The massive amounts of money are paid by American firms and consumers. Also, have a look at the impact on the U.S. stock market today, Trump, you dope! But keep it up! A recession will be be your undoing, which is what we want in the final analysis.

  81. That @massive amount of revenue” yeah that comes from US consumers.....

  82. The phrase "one-trick pony" comes to mind.

  83. It doesn't soothe my fears any that Brazil and Argentina are listening to their best economists and taking into consideration all the moving parts of international trade, while here at home we have a president tweeting from the toilet at 5 AM and patting himself on the back because no one else was consulted.

  84. America is a rudderless ship heading into a cataclysmic storm. The captain is watching TV and drinking Diet Cokes. Reminds me of Nero.

  85. As the world's biggest customer (i.e., consumer), I understand that we can wield power in the form of tariffs to drive more revenue. This said, will all of these tariffs balance our budget, or bring us any closer to doing so in any meaningful way?

  86. @Bob The answer to your question is an emphatic "no"! The tariffs will not cause our budget to improve an any meaningful way. The higher likelihood is that the trade war will cause the next recession, which will decrease incomes and make the budget deficit worse.

  87. Please reference that Brazil and Argentina have massively increased future purchases of American soybeans. See Bloomberg futures report. So in effect China is merely adding a middleman and increasing futures prices. Over the short haul China has no where to go but American farmers.

  88. Please, the biggest soybean trading company in Brazil and Argentina is the American company that dominant here. They stand to gain by recouping investment into Brazil and Argentina.

  89. Oh well. Since the SA countries have wisely ducked the bullet of western ownership of water and electricity which has struck Costa Rica squarely between the eyes, this is the retaliation. I have noticed the increasingly more desperate attempt to draw attacks from the occupied Middle East inhabitants now that Russian gas is in the offing and Chinese commercialism is available; more possibilities than the continuing endless war we're offering. What would you choose?

  90. The one hurting our farmers is Trump. He is giving the big farmers all the dollars, while the little family farms are filing for bankruptcy. Isn’t this the socialism that Trump is always complaining about? Trump said he is the best deal maker, so where are the great deals? When all else fails, hit another country with tariffs. Trump needs to go back to his tower in NYC, but he knows he isn’t liked there. How much more damage is he going to do to this country? Will we ever recover from his actions?

  91. currency manipulation? Ha! this all amounts to a hill of beans...... soy beans...... the ones not sold to china and the ones not being planted because there is no market. he is less a cadet bone spurs and more a Captain "Wrongway" Peter Peachfuzz.

  92. Because the tariff gambit has been so easy and has worked so well?

  93. Tariffs have already spooked American businesses into rethinking their supply chains, and into moving some manufacturing back to the US. The sellers of industrial machines are loving the tariffs - despite the higher cost of steel, If the revenue from tariffs offset taxes, that is not a bad idea (particularly if they offer relief to lower incomes with higher standard deduction, say an additional $6000). If after moving manufacturing to the US, American firms can lower costs because they have implemented high tech process engineering (say robotics, automation), then this is a win win. If we lose our hysteria with nuclear power and focus on renewable energy; it might be a serious win. There will be tremendous critique of tariffs too; they are blamed for WWII and what not, and all of them are valid to a point. Of course tariffs are dangerous if they lead to shoddy, overpriced goods for Americans (see any third world country with high tariffs designed to help local manufacturing). Then there is another factor. All new tariff-induced manufacturing, logistics and energy production (if that happens) will require an educated, disciplined, 'free of addiction,' psychosocially vibrant workforce (I suspect). Where does that leave the MAGA?

  94. None of the manufacturing is coming back. None.

  95. Revenue from tariffs? You do realize that “we” pay them on this side of the border? It is a tax!

  96. I hadn’t known that “Hooray,” was spelled with quite this many, “ifs,” in it. As in, “This is great, if I get a pony for Christmas.”

  97. In one breath Trump brags about how well the economy is doing and how low the unemployment rate is. In the next breath he claims were being taken advantage of and American businesses are suffering so badly it's a national security issue. Which is it Don? If metals imported from Argentina and Brazil are a national security threat please stop pretending that our economy is doing so well.

  98. Inertia. The world will always change and some changes are intentional while others are consequences. A normal government, or organization, try to look at the consequences of decisions. In the decision process, there are people with different opinions, with different roles. There are those that like quick changes and dynamics who say "yes, that would be great, let's try that!" and those who say: "hey, wait a minute, if we do that, this will happen". Inertia in politics is a bit like shock absorbers in a car. In Trump's government, there was very little inertia to begin with and now, when all who dared to disagree with him are gone, there is next to nothing. The vehicle that is the USA will have a bouncy ride with plenty of tank-slappers. Your driver is not stable.

  99. As we enter the election year Trump is trying to deflect responsibility for the consequences of his tariff wars to anyone other than himself. It will be years before we know the full damage this administration has caused to our national security, economy and environment. He will not go lightly, but go he must!

  100. Again. Presidential lust for headlines over policy. Was this a 5 or 9 AM tweet? A distraction from the real issues before America: liberty, peace and justice for all? Improving our roads, tunnels, airports and harbors? A distraction from Congressional Inquiry? Where are Presidential higher goals: building a better, safer. thriving America? Or, better to bully developed countries in South America. Next Presidential plan - to Build a Wall in Panama?

  101. Trump is really saying he want Americans to pay more for various products. His tariffs have giving Americans a pay cut. It cost more to buy stuff. You buying power is tanking.

  102. I get the picture now. Let the markets close out November, so that he can go to Afghanistan stand in front of the military and crow about how great their 401K's are doing, fly back and lob another giant wrench out of seeming left field into the economy, and markets, just as a new trading month starts. Sooner or later their (our) 401k's wont be doing so well. But that wont be his fault, of course.

  103. @Allan B My 401K did GREAT under Obama (stock market from 6500 to 20,000), and under Obama, we had an intelligent, sane, law abiding administration that inherited a country and economy in disarray, and actually did make America great again.

  104. As a nation that has no friends, Russia would naturally want to ruin America's historic friendship with its allies and the nations of the western hemisphere. Where it fails in its power of attraction, Russia applies leverage through the dark arts of blackmail and bribery. In its quest to corner the oil market, Russia is grabbing Venezuela with the consent of Vladimir Putin's vassal in the White House. Russia's end game is approaching as you can see by its decision to dump dollars and hoard gold as it strips the U.S. of its longtime trading partners. Republicans must find a way to blame Obama. Doesn't have to ring true, just sound angry.

  105. I will restore the Tariffs; ha, never were tariffs. Manipulating currency. Nonsensical. Trust me, Brazilians would LOVE to have their currency rise. It's unclear what prompted this move. Is it clear what prompts any move from Trump? Who gets up at 3:00 AM to tweet. Maybe he rolled over in bed and the Mrs. was not there and it made him mad.

  106. @Tom They have separate bedrooms, on different floors. Ever the loving couple!

  107. Reality Check USA could feed whole world if wanted too. Insted we produce vast quantys of ethenol for fuel for cars. USA needs to end all fosil fuel buring an save planet Alot can be done to encourage farmers to produce food .One offer rebates to people to turn in old cars or pickups blue book price. I doubt it will ever see it no one cares about next generation.

  108. @jerry lee this country is all about money, my money, the only value Trump people know.

  109. The president, that man of great and unmatched wisdom, sure works in strange ways.

  110. Recently, In the middle of the nigh,t Iran doubled the price of oil to its citizens. Riots soon followed. Now Trump , at 5:30AM , tweets a new tariff on Brazilian and Argentinian oil thereby enhancing those countries to cut rain forrest swaths to make up for the lost income by exporting cheap grains to China. Maybe some world leaders should try to get a better nights sleep.

  111. Trump has a tariff fetish. What he doesn't have is a clue. "..Because of Tariffs we will be able to start paying down large amounts of the $21 Trillion in debt that has been accumulated, much by the Obama Administration, while at the same time reducing taxes for our people. At minimum, we will make much better Trade Deals for our country!" - Donald Trump

  112. Seems like the US dollar is getting stronger against the South American currencies. Does anyone know why?

  113. @Independent Yes. There is more demand for dollars in countries where the economy goes badly. It's a result of bad things happening to local economies, like the burning of the Amazon or the return of spendthrift Peronism to power in Argentina. I don't doubt that Trump's Bad Neighbor Policy will further damage Brazil and Argentina's economies, which may further weaken their currencies.

  114. @Southern And so is our debt.

  115. Mr. Bolsonaro expressed shock at the tariffs, thinking that he had a good personal relationship with Mr. Trump. Mr. Bolsonaro had gone so far as to present himself as a mini-Trump. What he fails to understand is that Mr. Trump does not have friends. Everything is transactional for Mr. Trump. It matters not what you have given Mr. Trump in the past. The sole question concerns what you will do for Mr. Trump next. How many people have assumed a friendship with Mr. Trump, but now are doing periods of time in a penitentiary for helping Mr. Trump? For Mr. Trump, loyalty runs in only one direction. Do not allow yourself to think that Mr. Trump has friends. He has only transactional relationships of which he takes advantage. This will never change. He cares not for his friends, and he cares not for the American people. Why should Mr. Bolsonaro expect him to care about people in Brazil or Argentina? That's one foolish expectation.

  116. @Che Beauchard Trump must have an army of enemies out there. The impeachment could really turn into an avalanche of disclosures of Trump and the family crime syndicate.

  117. Is this Trump move designed a thinly veiled attempt to help out Oleg Deripaska and Mitch McConnell with their Kentucky shenanigans?

  118. More from the stable genius.... I have no faith this man has a clue about what he is doing... God, or Congress, help us!

  119. @Paul But the people around him, the supposed advisers should know, but they are as bad as he is. Are all of them just characterless and spineless wimps?

  120. Rudi should add the southern cone to his portfolio, and let Donald/Jr build a hotel in Rio or Buenos aires

  121. What is this man doing? Where is Anonymous when we need him!?! Argentina is in the throes of ultra poverty and this man imposes a tariff on a major export? Can our economy possibly be damaged by Argentina? He is the ultimate gringo besides being out of his mind.

  122. @Mickeyd You are completely right. Argentina's currency is sinking because of its sinking economy, and with it Argentinians' lives... Utterly appalling

  123. Everything Trump touches - dies...

  124. That man loves doing important things, especially things that hurt people. He's intoxicated with power, and why use it to help? It's as if you're serving them, and that's no kick. It's when you hurt people, when you roll over them, when what they need or desire is crushed--your will over theirs. That's the kick. You see it in his "love" for cruel dictators, in his stirring up people and nations against each other. With him, there's no ideology behind it; he's been this way all along, from his wives to the world. Others invent the ideology--the only one he'd want, anyway. He's a messiah, the Chosen One, an idea so demented that it boggles the mind. And a demented crowd of true believers follows blindly, working out their own psychological problems in that way. The mad rush of power, irresponsible power, urges them on. We've seen this before. It's worth bending heaven and earth to stop it.

  125. Should be NYT pick.

  126. @jb He is sadistic, out to hurt people on purpose.

  127. @jb and then there are his "supporters." I fear for the U.S.

  128. Because Trump's trade wars have been working so well, producing so much good for Americans and American business. Yeah, let's do more of that.

  129. International trade doesn't need political interference. Trump relishes, along with his termites, adding complication, and making matters worse. Trade runs on its own rules, specifications, and organizations to adjudicate conflicts and monitor the rules. Before Trump, trade was everyday background, it's own business as usual. It is critical it be resumed. Trump is creating chaos. Life is not a James Bond movie. The world must be rid of Trump.

  130. @cab02149 , political interference is all he does. In foreign affairs like Ukraine's, in domestic affairs like torments and threats to immigrants, in economic affairs like tariffs and trade, in military affairs--jerking our troops and allies around at will for his pleasure or whim. It's all Trump political showtime all the time. He thinks it's the WWF, he's wearing the championship belt, bully and bluster take the day as his crowd goes wild. It's grotesque, and you're right. The world cannot afford this madness.

  131. I tink he's doing this just because he needs more tariff money, paid for by American businesses, to pay off the farmers who voted for him in 2016 and are suffering the most from his senseless trade wars. Simply said, he desperately needs to buy their votes in 2020.

  132. @LRS That's exactly right except that some importers will not pass on part of those tariffs, which are taxes, in order to not have their market disappear completely were the consumers to stop buying their products. In any event, it's the American consumers and businesses that are getting hit by those tariffs, with a multiplying effect as you say. And Trump is using their money to buy votes in 2020.

  133. I wonder why Congress is not investigating Trump, and his appointees to teh SEC, fro market manipulation. like clockwork, the markets hot record highs and then he imposes new tariffs, talks breakdown with China, etc. and the market drops. Then his friends, like Bloomberg, race in and send the market up again, after stocks are dumped. Of course, this move, does absolutely nothing, other than make it worse fro US manufacturers which have to pay more fro steel. Which of course will be passed on in higher prices. Meanwhile, no one is starting up a steel plan in the US. American farmers are already hurt by Chinese tariffs, so not they have more tariffs to contend with. Farmers were already at the edge; this will push them over the edge. The US may get two Christmas presents this year; a Trump created recession and Trump's impeachment. In addition to a a lump of coal to the retail industry, as consumers hold back, because of more Trump created uncertainty. FYI, if you have an IRA, is is losing about 1/2 percent of its value right now. Why? Tariffs, manufacturing weakness, depressed farm prices, and stalled Chinese trade talks. Trump's solution? Throw gasoline on a roaring fire. January, 2020 cannot come soon enough, with hopefully Trump out of office and heading to federal prison with a bunch of his staff and GOP politicians.

  134. @Nick Metrowsky "American farmers are already hurt by Chinese tariffs, so not they have more tariffs to contend with. Farmers were already at the edge; this will push them over the edge." Wonder what would it take to make them vote against Trump.

  135. @Nick Metrowsky So why do the farmers still support him?

  136. @dba Because they don't want to admit that they were conned.

  137. It appears that in the battle in Trump's head between personal ideology and political pragmatism, his ego wins every time as he pushes the U.S. right into a recession.

  138. @Mark from Georgia Yeah, the all-time high in Black Friday spending is an indicator that's frightening me, too. And employment levels haven't been at these levels since 1969 (lows)

  139. @musee , the usual from Trump's short-sighted fans. Such as they were all atwitter with how wonderfully well the housing market was doing! What a boom on the stock market! They couldn't see the sickness in it, the crash coming, although it was patently coming. When Trump's two trillion dollar tax gift to the rich and corporations, his cutting their taxes to nothing courtesy of our national treasury, is used up, they'll want more. They'll be after your social security, Musee, and they won't take no for an answer. By the time you understand who Trump is and serves, it will be too late. We have to oppose him in your behalf, against your wishes, for your own good as well as the nation's. You can thank us later.

  140. @jb wrote: " When Trump's two trillion dollar tax gift to the rich and corporations, his cutting their taxes to nothing courtesy of our national treasury, is used up, they'll want more. They'll be after your social security, Musee, and they won't take no for an answer." This has been the conservatives plan all along. They want the federal government gutted and so draining the treasury is job #1. When the you-know-what hits the fan, and the massive cuts begin, the first to get hit will be these social programs. If we support the federal government we have today, we have to realize we have hit the end of the road in tax cuts, the time to raise taxes has arrived. The next president will decide: Fundamentally shrink and eliminate swaths of government or increase revenue to the treasury and rebuild the parts of government we value in an effort to get them to perform and function in a manner appropriate for a top tier nation.

  141. Trump actually accuses other counties for hurting farmers? His polices result ,so far, in 30 plus billion in welfare, 25% increase in bankruptcies, increased suicides , and loss of markets through out the world.

  142. @Richard Head So, he's winning bigly, right?

  143. @Richard Head But farmers will vote again for him on 2020, because they actually like what he is doing. And boy, do they hate those democrats that have been harassing the president for three years.

  144. US subsidies artificially lower the price of commodities that account for the majority of Argentina and Brazil exports, lowering the main source of income for these countries. With tariffs on top of this, Argentina and Brazil may hit the US on drug patent revenue. Nobody wins with these tariffs.

  145. We are at, or near, the inevitable end of the economic cycle. Trump's policies are going to cause the next decline to be sharper and swifter. Who will he blame? Surely not himself.

  146. This is just another indication that the trade deal with China is falling through. And, naturally, in the absence of a deal with China, Mr. Trump will be worried about the rust-belt's vote in 2020. Obviously he knows how the game is played. He needs to do something to keep the rust-belt farmers' hopes high until the election is over. And it appears that he has a plan for just doing that. Mr. Trump has started new tariff wars, this time with countries that their economies are small and fragile enough that they cannot stand up to his economic bullying. And he will be coercing them, regardless of them being friend or foe. After all, in his mind, "winning the election" is everything. Once Mr. Trump manages to strong-arm a couple of these small countries to give in, then he will go to the farmers telling them he has worked hard to bring them a prize; "a tremendously big win", no matter how small "the win" may be in reality.

  147. @Eddie B. Brazil is the same size as the U.S.

  148. @kc It's not the geographic size that's meant here.

  149. @kc Economically it is 1/3 the size.

  150. Per “A Warning” by Anonymous, these renewed tariffs would have been implemented despite urging by qualified advisors for Trump not to do so. Trump simply cannot be re-elected.

  151. So the GOP has completely abandoned the concept of free market capitalism. Not a peep from the Republican controlled Senate and the always spineless McConnell.

  152. @Andrew : Whatever made you think that the Republicans ever believed in "Free Market Capitalism?"

  153. Argentina's economy is faltering, so its currency goes down on the markets. So, Trump being the great guy that he is, lends a hand to make their economy worse. Making enemies and alienating people since 1980.

  154. Everything is a Twitter announcement with the president. I have never seen a person, much less an elected official to the national Level, who is so in need of attention. With Regan we had a “movie star” mentality, waiting for the lights and camera. He was always ready for Mr. DeMille. With Trump we got the Twitter presidency coming out of Reality TV, with the attentions span and intelligence of 280 characters. He watches entertainment based opinion TV shows and follows their lead. The shallow leading the uninformed. I continue to be amazed that anyone, even his base, could find anything that’s admirable about someone who lies daily, cheats, calls people names, even children and those who are disabled. It’s his pathological need for attention, to be the center of everything that is the most disturbing. If these trade wars lead to a world Wide recession he will brag that it was the biggest ever and of course it will be someone else’s fault.

  155. If it's the case that Brazil has been working its currency, why did the Brazilian government intervene to bolster the Real? This accusation, like most of what emanates from the president, is a baseless lie, yet his allies continue to support him blindly. It is simple, one cannot claim to be in favor of anything resembling the truth AND support this president.

  156. I have just one question. What is happening to the trade deficit since Trump's "unmatched wisdom" started tweeting the economic plan of the day? Except for Brazil or Argentina giving Trump a lesson in economics, these countries have done nothing wrong except negotiate with the US in good faith, only to have Trump welch on the deal. Or rather, welch on another deal. The US is quickly running out of trust. Ok - I have two questions. When will Republicans grow a spine and stop the Wizard of Oz?

  157. @Martin ....when four out of ten Americans wake up and allow them to.

  158. It's important to understand which international players lose when Trump hits them with tariffs. It's even more important to know who, in these United States, wins. And what they paid to win. This situation is rife for corruption, and corruption is Trump's middle name. Follow the money.

  159. Two additional facts worth contemplating: According to the American Farm Bureau Federation, government aid in its various forms, including "trade aid" brought about by the trade war, will make up over 37 percent of farm income this year. As for tariffs, they continue to tax the middle class to offset a portion of the growing budget deficit brought on by tax breaks that mostly benefited the wealthy. The reason that tariffs are a middle class tax is simple: the consumption of consumer goods does not correlate directly to wealth. For example, even if someone has twenty times as much money, they do not use twenty times as many washing machines. They do not watch twenty televisions instead of one. So the purchase of consumer goods takes a larger percentage of middle class income. And since tariffs are offset by higher prices, they are a hidden tax on middle class incomes.

  160. @John Walker ; Ah yes, the old Doonesbury cartoon of the farmer standing in his field,singing "Sweet land of subsidy, of thee I sing."

  161. @John Walker , they're a tax on lower class and poor people, too. The greatest hit by percent of income, I think, is on them.

  162. Trump imposes tariff's so that he can grant exceptions to his supporters and punish those that don't support him. Another use of government power for personal political ends. Congress, not the president, has the constitutional power to regulate commerce. Congress should not allow the president to make exceptions to tariff.

  163. Oh yeah -- the reason nothing at all can be manufactured in the USA is entirely because of Trump policies!!! We should have had tariffs a long time ago to prevent all US and European companies from moving factories to the third world countries where workers could be paid badly so the shareholders could thrive. Why are Apple products produced by Foxcomm (the company that famously cheated the WI taxpayers which has put up suicide nets so that unhappy workers can't hit the pavement. Yes, it is that bad. When a friend told me her ex ran a steel mill in Brazil I didn't think about it... but now I have a different concept of the situation. Frankly, I think Trump is correct on trade... and I think High Time Americans threw away less, much less. (Airplanes that we fly in can be 25 or more years old; odd to see a 25 year old car on the highway, e.g. Expand to everything. Granted many new products are much better and energy efficient..but then there is all the rest of the stuff.

  164. @Auntie Mame Sorry, 99% of all economists say tariffs are a bad idea. Open free trade is the only way. You can help workers in other countries reach parity with Americans in many other ways instead of punitive measures that cause hardship. American farmers? Bailouts in the Billions from trump...Like many trump policies Dead on arrival!

  165. @Auntie Mame - As far as how long things last, cars have never lasted 25 years. Nor were they meant to. But it would be nice to see big ticket appliances last like they used to. Now, 10 years is the norm. Here's the problem: If things are made to last a really long time, industry does not need to make as many, and the price could go up significantly, suppressing sales. Such would likely put alot of people out of work. I don't like it, but thems the breaks.

  166. @Auntie Mame: If trump is successful, where are you going to find the money to pay for all those things that you buy from Asia at Walmart once the prices go un astronomically? I'll bet you will still blame the Democrats. You too can have a us made auto that lasts 25 years. All you need is a couple of hundred thousand dollars.

  167. Trump creates another problem to distract from the one he created. But, honestly I think Trump really does believe that those countries pay the tariffs. I don't think he understand that he is hurting the American consumer and that is frightening.

  168. The market should govern prices, not Trump.

  169. Yup, Trump continues to subsidize our farmers, and continues to increase our taxes via his latest tariffs on Argentina and Brazil. He still doesn't understand, and he has loosened whatever is left of Dodd Frank. The Fed is loaning the big banks billions, ie Morgan Stanley, and trillions if the big banks have another "2008" financial crisis. Who will pay when we have a crisis? And when is he going to clear up, and pay up and reimburse those public and federal entities who have incurred debt, for his continuous golfing and campaign "vacations" both here and around the world, and when he stays at his own resorts? No other President has ever used everyones money, but his own. Billionaire Trump should pay from hi own alleged billions!

  170. Somebody should have told President Trump that “taking on China” is just a promise politicians make when they are campaigning, to look tough. They’re are not actually supposed to do anything about it.

  171. @JQGALT - Somebody should tell Trump supporters that Trump products are made in China.

  172. @DR And yet, he is leading the charge in an unprecedented brutal trade war with China.

  173. It sounds like tRump doesn’t have the authority to levy these tariffs because he cannot claim a national security issue, so I assume this is more hot air and deflection from the real problems. He cannot just punish consumers and South America because China is buying its agricultural products from them. What was that old school republicans used to preach about unintended consequences of tariff actions? Too many heads buried in the sand.

  174. Well, if you believe in a market economy and rising stock prices and don't like paying tariff taxes the answer is clear: Don't vote for Trump.

  175. And he didn’t impose tariffs on the two things that do need to have tariffs: beef and timber. The Amazon continues to burn, and deforestation continues to literally threaten the planet (unless Republicans believe they can somehow breathe without oxygen), but he’s leveling steel and aluminum? The man goes out of his way to hurt people it seems. It literally feels like before he announces a proclamation, that he asks himself how he could hurt the most amount of people. Imposing tariffs on Argentinian and Brazilian steel & aluminum hurts American consumers, doesn’t have anything to do with American farmers, hurts South American metal workers, and further encourages farmers in South America to burn and cut down trees to make room for cattle or for logging to export to North America. It’s literally the best way to hurt as many people as possible while helping as few people as possible. And he does this every single day. The guy is a real life cartoon villain.

  176. His policy is to see how many markets he can damage while blaming foreigners for damaging the markets that were working before he interfered. This is the definition of the head eating the tail. I think that these things are done as a dog whistle to his supporters that get turned on by bashing foreigners as well as distractions from his incredibly large number of failures. He truly believes that the average citizens is a complete moron. I hope he is not right.

  177. Nothing redeems this man. Trump = Misery.

  178. How is Trump getting away with his actions...The republicans are in bed with the russians as well. Recently Indicted Lev Parnas and Igor Fruman face several felonies for defrauding the U.S. Federal Election Commission (FEC) for unlawfully soliciting foreign campaign contributions. Parnas made 20 identical contributions of $661.90 to the: REPUBLICAN PARTY OF MINNESOTA North Carolina Republican Party New Jersey Republican State Committee South Carolina Republican Party Tennessee Republican Party Connecticut Republican Party Wyoming Republican Party Republican Federal Committee of Pennsylvania California Republican Party Republican Party of Wisconsin New York Republican Federal Campaign Committee Republican Party of Virginia North Dakota Republican Party Mississippi Republican Party West Republican Party of Louisiana Illinois Republican Party Kansas Republican Party Parnas made a donation of $2,700 to: Candidate Trump House GOP Minority Leader Rep. Kevin McCarthy (R-Calif) Pete Sessions (R-Texas) and VP Pence‘s Great America Committee $5,000 GOP’s “Protect the House” fundraising committee $11,000 The National Republican Congressional Committee $3,800 The Republican National Committee $33,400 The Trump Victory PAC $50,000 Fruman: Sen. Rick Scott (R-Fla.)$15,000 Rep. Joseph Wilson (R-S.C.) $2,700 twice

  179. @Pray for Help Your source, please.

  180. Our socialist farmers don’t care. They get paid by the State (ie the taxpayers) even if they plant nothing, courtesy of our Socialist President Trump.

  181. @Donald White ..."Our socialist farmers don’t care. They get paid by the State"....But not very much. You should check it out.

  182. @W.A. Spitzer Then explain where the tens of billions are going.

  183. @Jerseytime The bulk of the money is going to large corporate agriculture, not small farmers. The Environmental Working Group found that in the first round of bailout payments, the bottom 80% of farmers received less than $5,000 each.

  184. Trump the one trick tariff pony. He truly is a simpleton.

  185. Argentina and Brazil must have stood in the way of him building a hotel or golf course there.

  186. And the daughter was just in those countries a month or 2 ago under the pretense of her women’s initiative of the tin beggars cup of payola...not enough to keep America First, as they claim, and now she and the family have 1stdibs on all industry. Flash forward to Istanbul, Moscow, and now Brazil, Venezuela and Argentina...journalists jailed, governments in flames, mass migration and Princess Purses is still getting her handbags, shoes and hotels to voting machines Made in China.

  187. This is what happens when you have a sociopath in power. There is no end to the destruction he will wreak.

  188. The Brazilians ought to tell Giuliani that they have some dirt on Joe Biden, and those tariffs will disappear overnight.

  189. When will this end?

  190. Someone please explain if the traitor is manipulating our currency by threatening the federal reserve chair?

  191. Good idea. Let's kick the Argentines when they're down. That'll help.

  192. @Ralph Trump has never had friends. This trait has continued while he's President.

  193. The Republicans love to brag about the “Trump Economy & Stock Market” but it never belonged to Trump! Trump inherited Obama’s economy and a thriving Stock Market! That’s the truth! No matter though, because Trump who filed for bankruptcy six times, squandered a billion dollars his daddy gave him, is slowly destroying the U.S. economy with his ego’s trade war! Trump Recession, wait for it...

  194. It will take a person with more money than Trump to earn his respect. His affection is directly linked to dollars he can garnish for himself. His refusal to understand the effects of tariffs on retail prices here in the US is obviously because he doesn't give a hoot about the average consumer or jobs lost because of his stupidity. Now he sees Argentina and Brazil as competitors in commodities his policies have savaged, so once again he makes the wrong decision to extend tariffs thereby hurting our consumers more and eliminating jobs he has claimed to have saved. What a guy!

  195. More “Ready, Fire, Aim” policies from the not so stable, non-genius. The policies were not announced through regular, customary trade protocols because they were concocted during DJT’s “executive time.” Watch, next he will extort some small vulnerable country like Ukraine over military funding! Oh wait.... he’s done that already!