(Bloomberg) --
Brazil President Jair Bolsonaro said he has a “open channel” to discuss tariffs with Donald Trump, after the US president restored tariffs on steel shipped from Brazil. Bolsonaro asked journalists to wait for him to discuss the tariff issue with Economy Minister Paulo Guedes and, if needed, with Trump, before commenting on U.S. decision.
Trade War
“I'll talk to Paulo Guedes now. If it's the case, I talk to Trump, I have an open channel with him,” Bolsonaro told journalists on Monday morning. Earlier, Trump 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.”
Economic Shuffle
Brazil's Treasury Secretary, Mansueto Almeida, wants to leave his post for personal reasons, newspaper Valor Economico reported last Friday, citing unidentified officials. According to newspaper Estado, Guedes will shuffle roles within the ministry. Almeida may become the executive secretary of the Fiscal Council of the Republic, an entity that would be created by constitutional amendment as part of the so-called Federative Pact. Almeida reportedly told colleagues that his commitment to the current government is to remain in charge of the National Treasury, according to Folha de S.Paulo. The appointment to the Fiscal Council of the Republic could only be an extra position, said the report.
More Changes
Another change, which is already set, according to Estado, involves transferring deputy secretary Esteves Colnago to Guedes' cabinet to reinforce political negotiations in Congress. The current Secretary of Foreign Trade and International Affairs, Marcos Troyjo, has reportedly been considered for a seat in the BRICS bank.
Support for Reforms
Bolsonaro still backs Brazil's pro-market policies, Guedes said in an interview with O Globo newspaper published on Sunday. That's despite some delays to their implementation due to political timing amid social protests in the region.
Other Highlights
- Rodrigo Maia's successor as lower house speaker entered the legislative agenda, says the Folha de S.Paulo
- Government seeks way to finance increased number of beneficiaries of Bolsa Familia: Folha de S.Paulo
- With Sergio Moro as vice president, Bolsonaro would win in the first round, says General Ramos to Estado
- On the eve of climate conference, Bolsonaro publishes environmental package: Valor Economico
- Telecom and manufacturers already consider 5G auction postponed to 2021: Folha de S.Paulo
Newspaper Top Stories
- O Estado de S. Paulo and Folha de S.Paulo
- Highlight that police action that left 9 dead in Sao Paulo will be investigated
- Valor Economico
- Reports that BNDES will sell 38.8 billion reais in shares next year
Reporter on the original story: Fernando Travaglini in in São Paulo at ftravaglini@bloomberg.net
Editors responsible for the original story: Daniela Milanese at dmilanese@bloomberg.net, Josue Leonel
©2019 Bloomberg L.P.
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