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ERROR: type should be string, got "https://www.farmprogress.com/sites/all/themes/penton_subtheme_farmprogress/images/logos/footer.png\nOrchard Crops\nVine Crops\nCrop Topics\nCow-calf\nMaster Farmers\nHard Red Wheat\nSoft Red Wheat\nSpring Wheat\nNatural Gas (E)\nSentera FieldAgent stand count analytics now includes cotton\nCRP turns 35 and an important signup deadline nears\nTrump signs USMCA\nCalif. Farm Bureau: Signing of USMCA solidifies markets\nAcid headache: Common mistakes reduce peanut profits\nU.S. Cotton Trust Protocol preaches sustainability\nHome>Markets & Quotes>Marketing>Trade\ngguy44/iStock/Getty Images Plus\nTrump ties Brazil, Argentina steel tariffs to U.S. farm woes\nPresident Trump announces on Twitter that he will reinstate the tariffs on all steel and aluminum that is shipped into the U.S. from the two countries.\nBloomberg | Dec 02, 2019\nBy Brendan Murray and Joe Deaux\nPresident Donald Trump is reinstating tariffs on steel and aluminum from Argentina and Brazil, nations he criticized for cheapening their currencies to the detriment of U.S. farmers, and he again called on the Federal Reserve to loosen monetary policy.\nLinking his trade agenda with his Fed criticism in an early morning tweet, he said the two South American countries “have been presiding over a massive devaluation of their currencies, which is not good for our farmers.”\nThe president’s action amounts to retaliation against two nations that have become alternative suppliers of soybeans and other agricultural products to China, grabbing market share away from the U.S. Rural voters, including farmers, are a key constituency for Trump as he heads into the 2020 presidential elections.\nWhile the steel tariffs could crimp trade, the Latin American countries gain much more shipping crops to Chinese buyers. In the first 10 months of the year, Brazil has shipped $25.5 billion in farm products including soybeans and pork to China. That’s more than 10 times the value of steel and iron product sold to the U.S.\nBrazil’s President Jair Bolsonaro said he would talk to his economy minister before reacting to Trump’s comments on the Brazilian real and the imposition of steel tariffs. “If needed, I can also talk to Trump, I have an open channel with him,” he added as he left the presidential palace.\n.....Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies. This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen - Fed!\nIn the case of Argentina, soybean shipments to China totaled $2.4 billion in 2017, more than triple the value of the South American nation’s aluminum and iron pipe exports to the U.S. As the trade war between Beijing and Washington escalated, China boosted imports of the oilseed to $2.5 billion in the first 10 months of 2019, Chinese customs data show.\nIn a second Twitter post, Trump signaled that he wants the U.S. central bank to do something about suppressed currencies.\nArgentina’s peso plunged earlier this year on election results putting a left-wing candidate in the presidency. Brazil has intervened multiple times in the past month to support its devaluing real.\nTrump has long grumbled about the dollar’s strength and urged the Fed to abandon decades of precedent and act to weaken the greenback. The U.S. government’s dollar policy has traditionally been directed by the Treasury Department. That has prompted fears that the U.S. could lead the world into an era of weaponized monetary policy.\nWhile such a currency war hasn’t happened yet, Monday’s move marks the first time Trump has linked the imposition of tariffs explicitly to Fed action tied to currency movements. As such, it signifies a potential new phase in his trade wars in which foreign-exchange markets are the battleground.\nStocks, Forex Moves\nThe U.S. has imported about 3.8 million metric tons of steel from Brazil so far this year, most of which are slab, according to U.S. Census Bureau data. The South American nation’s steel accounts for about 3.5% of the 110 million tons consumed in the U.S. a year.\nThe Brazilian real strengthened 0.4% to 4.2185 per dollar at 11:23 a.m. in New York.\nThe reinstatement of tariffs will boost U.S. steel prices, benefiting domestic producers.\nAK Steel Holding Corp. rose 6.9% in New York. U.S. Steel Corp. was up 3.8%, and Steel Dynamics Inc. gained 1.4%.\nThe American depositary receipts of Brazilian steelmaker Gerdau SA, which runs plants in the U.S., rose 1.4%. Shares of Usinas Siderurgicas de Minas Gerais SA rose 0.5% in Brazil.\nExports to the U.S. by Usuminas, as the Belo Horizonte-based steelmaker is known, aren’t significant enough to have an impact on the company’s financial results, Pedro Galdi, an analyst at Mirae Asset Wealth Management said by phone.\nThe Brazil Steel Institute, a trade group that represents domestic producers including Gerdau and Usiminas, said the tariffs could boomerang on American steelmakers because they need “semi-finished products exported by Brazil in order to operate” their mills.\nThe tariffs are in “retaliation against Brazil, which is not consistent with a relation of partnership between the two countries,” the industry group said in a note.\nIn March 2018, Trump authorized a 25% tariff on steel imports and a 10% duty on aluminum -- import barriers that heralded the start of his administration’s hawkish push on trade -- after a government report found that foreign shipments of the metals imperil national-security interests.\nHe then directed U.S. Trade Representative Robert Lighthizer to negotiate with countries seeking to turn their temporary tariff exemptions into permanent ones.\nIn August last year, he gave South Korea, Brazil and Argentina targeted relief from quotas imposed on inbound steel shipments to protect U.S. producers. The move allowed buyers to request exemptions for imports from key suppliers.\n--With assistance from Shawn Donnan, Courtney Dentch, Mario Sergio Lima, Walter Brandimarte, Jonathan Gilbert, James Attwood, Pratish Narayanan and Sabrina Valle.\nTo contact the reporters on this story:\nBrendan Murray in London at brmurray@bloomberg.net;\nJoe Deaux in New York at jdeaux@bloomberg.net\nTo contact the editors responsible for this story:\nSimon Kennedy at skennedy4@bloomberg.net\nLuzi Ann Javier, Joe Richter\n© 2019 Bloomberg L.P.\nTAGS: Exports"