Jair Bolsonaro Responded To Donald Trump: "We Are Not Artificially Increasing The Dollar"

The president of Brazil, Jair Bolsonaro, responded Wednesday to his US counterpart, Donald Trump, after threatening to assess Brazilian steel and aluminum and warned that his government is not "increasing the price of the dollar artificially."

"We do not want to increase artificially here, we are not artificially increasing the price of the dollar," Bolsonaro said when leaving the Palacio de la Alvorada, the president's official residence, in Brasilia.

The statement of the Brazilian president comes after Trump announced his decision to restore tariffs on steel and aluminum in Brazil and Argentina after arguing that both countries applied "a massive devaluation of their currencies", which harms US farmers .

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The Brazilian president, a confessed Trump admirer, with whom he says he has a very good relationship and a "very cordial" contact, reiterated his confidence in the US president and stressed that there is still no firm decision on the part of the United States.

"There is no disappointment, because the last word has not been given … Not because a friend speaks to me badly in any situation, I will turn my back," Bolsonaro added.

According to the Brazilian, one of the reasons for the real depreciation of the real – which has fallen around 8.5% so far this year – has been the commercial war between the United States and China.

In the same vein, the Minister of Economy, Paulo Guedes, pronounced that Trump committed a "brutal misunderstanding" by accusing Brazil of artificially devaluing its currency, in addition to ensuring that "there is no monetary manipulation" underway.

“There is no manipulation. This is a political speech (of Trump), it has to do with the election, ”said the head of Economy to the O Antagonist portal, in an interview released on Wednesday. "Trump is committing a brutal mistake by thinking that we are causing a competitive devaluation," he added.

In March 2018, the US imposed tariffs of 25% on imports of steel from several countries and 10% on those of aluminum in the framework of its trade war with China, but soon relaxed the restrictions on Brazil, which accepted an agreement that establishes a 10% tariff on aluminum sales and quotas for its steel sales.

Bolsonaro had already warned this week that Trump's threat to impose tariffs on steel and aluminum imports does not affect the good relationship between the two countries, which has intensified since the arrival of the Army reserve captain.

The president described Trump's announcement as a political strategy for the presidential elections next year in the United States and said that good relations between the two countries will overcome any problem.

(With information from EFE)

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