This week, we talk about the state of relations between Brazil’s Bolsonaro and U.S. President-elect Joe Biden. And what banks’ earnings reports say about the economy.
Bolsonaro keeps mum about Biden win
After days of a drawn-out counting process in key states, American TV networks finally called the U.S. presidential election on Saturday, declaring Democratic candidate Joe Biden as the winner. But neither President Jair Bolsonaro or Foreign Minister Ernesto Araújo have issued any statement congratulating the president-elect, being the only South American nation — besides Suriname — to do so.
- After Mr. Bolsonaro pledged “loyalty” to Donald Trump last week, the message from the Brazilian government is that the country will wait for an “official” result, as Mr. Trump plans to challenge the election outcome in court. The same stance has been adopted by Mexico, as the border country wants to “avoid friction with Washington during the transition.”
Why it matters. The U.S. is Brazil’s second-biggest trading partner, and Mr. Bolsonaro is actively worsening relations with Joe Biden, the man who will lead the U.S. for the next four years.
- When elected, Mr. Bolsonaro had promised to lead Brazil into “pragmatic foreign relations.” He has done anything but —...