0

Geithner in Brazil talking currency, credit, and China

Treasury Secretary Timothy Geithner testifies before the House Oversight and Government Reform Committee on the bailout of insurer AIG in the Rayburn House Office Building on Capitol Hill in Washington, D.C.

TEXT OF STORY

STEVE CHIOTAKIS: U.S. Treasury Secretary Tim Geithner is in Sao Paulo, Brazil, today just a month after Brazil's new president was sworn in. Geithner's likely to use the trip to convince Brazil to work with the U.S. to pressure China on trade policy.

The BBC's Paulo Cabral is in Sao Paulo, outside of where Geithner is speaking today. Good morning Paulo.

PAULO CABRAL: Good morning.

CHIOTAKIS: What can the U.S. get out of this Tim Geithner trip?

CABRAL: Probably to get better relations with Brazil. Brazil and the United States have bickered over the last couple of years over their respective economic policies. Brazil complains that the weak dollar is actually hurting Brazilian exports. And the United States is not too happy with the measures Brazil has taken to defend itself. So we've just had change of government in Brazil, so there is a hope that it will be possible to rebuild this relationship. You know that in March, President Obama will come to Brazil so this a preparation for this visit.

CHIOTAKIS: What do the U.S. and Brazil economically have in common, Paulo?

CABRAL: Amongst all the disagreements that there are between Brazil and the United States, one thing that the two countries agree on is the concern that cheap, Chinese goods are flooding our markets here in Brazil and in the United States. And so there is a hope that putting Brazil and the United States together could help to try and stop China, stop Asia here.

CHIOTAKIS: The BBC's Paulo Cabral joining us from Sao Paulo. Paulo, thank you.

CABRAL: Thank you very much.

Log in to post0 Comments
With Generous Support From...