International

Pro-Bolsonaro truckers lift Brazil highway blockades

AFP

Brazilian truck drivers rallying in support of President Jair Bolsonaro ended three days of road blockades across the country Thursday after the far-right leader asked them to stand down to avoid hurting the economy.

The infrastructure ministry said big-rigs were still “concentrated” along roads in 13 of Brazil’s 27 states, but that there were “no remaining blockages on the national road network.”

The truckers launched their protest Tuesday on Brazilian Independence Day, as Bolsonaro held massive demonstrations to rally his base against what he calls a hostile political establishment determined to thwart his agenda.

But the blockades soon turned potentially damaging for the president, who asked the truckers to stop.

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“Tell our allies the truckers that the blockades are hurting the economy. It causes shortages, inflation — it harms everyone, especially the poor,” he said in a message to supporters Wednesday night.

In 2018, Brazil was paralyzed for days by a massive truckers’ strike against high fuel prices.

The latest blockades were not endorsed by truckers’ unions. But they spanned much of the country, including Rio de Janeiro, Brasilia and, according to media reports, key industrial hub Sao Paulo.

In Brasilia, dozens of drivers parked their trucks in the middle of the Esplanade of Ministries, at the heart of the capital, and initially refused to leave even when the police tried to remove them Wednesday night.

They displayed protest signs calling for a “military intervention” to give Bolsonaro unfettered power and “prison for the corrupt justices of the Supreme Court.”

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Bolsonaro has repeatedly hit out at the high court, which has ordered investigations of him and his inner circle, notably over accusations of systematically spreading fake news from within the government.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.