Question in Portuguese on dangers of protectionism and will the US purchase Brazilian goods.
Obama: Will have cabinet member check on that. “The US needs to recognize the dangers of a trade war. It’s important to understand that US businesses will benefit from our exports… Our goal is to at least not go backwards. The “Buy American” provision will not violate WTO rules. It may be difficult to finalize a host of trade deals in a crisis like this…I’m optimistic we’ll find a way. Job growth, income growth, won’t build a fence across countries.”
Lula: “Why didn’t we manage to close the [free trade] deal if there was a minor issue in the way? I believe it was because there was an election that got in the way. Europe and the US almost managed to get market access, but two issues, 1 in India and one in the US, got in the way. Now on the crisis, we might be able to relieve the developing world in this crisis. The US and Brazil trade $53 billion… it is clear, for the size of the 2 countries we don’t have much trade flow. What is the problem? What happens each country wants to sell, and foreign trade is a two-way street, and we need to strengthen this idea because protectionism will aggravate the economic crisis…. This is much more than a practical issue. I hope the US and Brazil can mature their thinking ahead of the G20 so we can present a joint solution. I’m very optimistic.”
The impression is that Lula is the pro and Obama the amateur.
(agradeço ao leitor lucklucky a indicação do link)