Trump expands global trade war

President Trump said on Monday that he would impose tariffs on steel and aluminum from Brazil and Argentina, accusing the countries of manipulating their currencies and hurting American farmers.

The currencies of Brazil and Argentina have both fallen sharply, but economists and government officials rejected the idea that the two countries were manipulating their currencies.

Big picture: The tariffs suggest Mr. Trump has not abandoned his confrontational approach to trade.

Context: The currency movements have made Brazilian and Argentine goods cheaper to buy abroad. China, in the face of Mr. Trump’s tariffs, has also shifted its purchasing of agricultural goods to those countries, which has rankled American officials.

The latest: A senior adviser to Mr. Trump said on Monday that a U.S.-China trade deal was still possible before the end of the year, adding that the first phase was being put to paper.