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CNN  — 

President Donald Trump announced Monday that the US will “restore” steel and aluminum tariffs on Brazil and Argentina, citing a “massive devaluation of their currencies.”

“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,” Trump t