Monday, February 7, 2011
US, Brazil agree to pressure China on undervalued currency
US Secretary of the Treasury Tim Geithner and Brazilian President Dilma Rousseff.
The United States and Brazil will work together to pressure China on its undervalued currency, US Treasury Secretary Timothy Geithner indicated after meeting with President Dilma Rousseff, in comments that reinforced an emerging alliance between the Western Hemisphere's two biggest economies.
“We hope we can develop a commercial, strategic and economic relationship with Brazil,” Mr. Geithner added.
The Secretary’s visit to Brazil precedes US President Barack Obama’s trip to visit Mrs. Rousseff in March.
Brazilian government representatives indicated that the Brazilian president agreed with Mr. Geithner’s statements regarding their bilateral relations and other issues discussed in the presidential palace.
Mrs. Rousseff was joined by Finance Minister Guido Mantegna, a recent critic of the US after their decision to devaluate the dollar, affecting Brazil’s capability to compete in the export sector.
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