ZCZC
BCN-04
BRAZIL-US-ECONOMY-CURRENCY
Brazil’s Bolsonaro rejects Trump currency manipulation charge
SAO PAULO, Dec 5, 2019 (BSS/AFP) – President Jair Bolsonaro on Wednesday
rejected US accusations that Brazil has weakened its currency against the
dollar, instead blaming global factors, after Washington announced plans to
reimpose tariffs on Brazilian steel and aluminum.
Bolsonaro’s remarks come after he was blindsided by President Donald
Trump’s announcement Monday about tariffs, which also would affect Argentina.
Trump charged the Latin American countries with “presiding over a massive
devaluation of their currencies.”
“We are not artificially increasing the price of the dollar,” said
Bolsonaro, who considers himself an ideological ally of Trump, outside his
residence in the capital Brasilia.
“The world is globalizing — even the fight between the United States and
China impacts the price of the dollar here.”
The Brazilian currency slid to a historic low of 4.27 reais to the dollar
toward the end of November, prompting the central bank to intervene to prop
it up.
Bolsonaro denied he was disappointed by Trump’s announcement, saying the
case was “not closed.”
“For now, no tariff has been imposed — there’s only Trump’s promise on
Twitter.”
He added: “I believe in Trump… we have an agreement, very cordial
contact.”
Bolsonaro’s remarks come a day after official data showed Brazil’s economy
— Latin America’s biggest — picked up pace in the third quarter, growing a
better-than-expected 0.6 percent from the previous three-month period.
BSS/AFP/HR/0935