The Trump Doctrine: Tariffs and currency wars

Are you ready for a good old-fashioned currency war?

President Donald Trump seems to be, at least according to some of his latest tweets.

On Monday, the president tweeted that Brazil and Argentina have been devaluing their currency, which makes their exports more attractive to the rest of the world. He contends that the days of a U.S. dollar are no longer helpful to the nation, so it is time for the Fed to start following the rest of the world.

So, ultimately, the buck needs to hit rock bottom like everybody else.

Tariff Man tweeted:

“Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.

“The Federal 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!”

So, under the Trump doctrine, tariffs and currency wars are how we do this, baby.