On Air Now

Current Show

Coast to Coast AM   12:00 AM - 6:00 AM

Contact Coast to Coast AM at 1-800-825-5033

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
53° Feels Like: 53°
Wind: SSW 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Showers 48°

Tomorrow

Showers 65°

Mon Night

Showers 50°

Alerts

Brazil's Mantega warns of "trade war": report

LONDON (Reuters) - Brazil is ready to take further steps to stop its currency from rising, the country's Finance Minister said on Sunday, warning of a "trade war" if government's keep pushing down exchange rates to boost exports.

"This is a currency war that's turning into a trade war," Guido Mantega told the Financial Times in an interview published on the paper's website late on Sunday.

Mantega coined the term "currency war" last September, as government's manipulate their currencies' value to boost their export competitiveness. Mantega told the FT he would like to see China revalue the yuan.

"We have excellent trade relations with China... But there are some problems as China is a big competitor in manufactured goods...Of course we would like to see a revaluation of the renminbi (yuan)," he said.

Mantega also said the government would target the futures market to stem upward pressure on the real.

"You can expect more measures on the futures market," he said.

Last week Brazil took steps to curb its hard-changing currency by making it more costly for banks to bet the real will keep strengthening.

(Reporting by Caroline Copley; Editing by Diane Craft)

Comments