Asia FX weakens slightly, rupee recovers from record low as RBI holds rates
Investing.com -- Brazil’s Finance Minister Fernando Haddad said Monday he expects to speak with U.S. officials this week while emphasizing Brazil’s commitment to maintaining sovereignty in key economic areas.
"I believe that this week I will talk to US Bessent," Haddad stated, adding that Brazil has "never left the negotiating table with the U.S. and we will not do so until there is an agreement on the horizon."
Haddad outlined potential areas for U.S.-Brazil cooperation, particularly in battery production. "We can make cooperation agreements with the U.S. to produce more efficient batteries, we have critical minerals and rare earths," he said.
The finance minister made clear that Brazil seeks balanced international relationships. "We don’t want only China or the European Union to invest in Brazil, we want the U.S. to invest too," Haddad remarked, while emphasizing that Brazil is "too big a country to serve as a satellite of an economic bloc."
In a direct message to Washington, he added: "U.S. needs to understand that Brazil wants partnerships, but not as a satellite, not as a colony."
Addressing potential U.S. tariff increases, Haddad noted that products like beef and coffee could be redirected to other markets, though he expressed concern about impacts on other sectors. He mentioned that a contingency plan for steeper U.S. tariffs would have a "small primary impact."
On the domestic economic front, Haddad offered an optimistic outlook, stating that "inflation is falling, soon interest rates will follow suit."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.