Speaking to reporters in Sao Paolo Brazil, US Commerce Secretary Wilbur Ross said US President Trump and Brazil President Bolsonaro are both committed to reducing trade barriers and facilitating investments, especially in energy, infrastructure, agriculture, and technology, per Reuters.
“The United States is working on a mutual recognition agreement with Brazil that will reduce costs for the US and brazil companies,” Ross told reporters.
None of Ross’ remarks seems to be having an impact on the BRL’s market valuation with the USD/BRL pair posting a modest daily gain of 0.2% at 3.7886.
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