Customs have been "immediately" reinstated, US president donald trump wrote in the twitter message service. He justified the step with the "massive" devaluation of the land rights of the two sudamerican countries. This is "not good for our farmers". The u.S. Competes with the two countries for certain agricultural products such as soybeans and corn.
Trump also renewed his criticism of the fed in this context. It should lower interest rates and ease monetary policy "so that countries – of which there are many – can no longer take advantage of the strong dollar by further devaluing their currencies.". In the past, trump had also accused the european central bank (ECB) of deliberately weakening the euro.
Accusing argentina and brazil of deliberately devaluing their truths is questionable, to say the least. The argentine peso has been under pressure since a change of government and policy emerged in argentina this summer.
The brazilian real has been suffering for a long time from the economic problems of the country. Argentina took measures in the summer to counter the devaluation of its currency, and the brazilian central bank intervened directly in the currency market just a few days ago.