Trump says he could work out some deals with Brazil

KUALA LUMPUR: U.S. President Donald Trump said he could work out some deals during his meeting with Brazilian President Luiz Inacio Lula da Silva in Malaysia.

AI Brief

Trump and Lula expressed optimism about improving US-Brazil relations during their meeting at the ASEAN Summit.
Trump raised tariffs on Brazilian goods in August, which Lula called a mistake due to the long-standing US trade surplus.
The tariff hike has impacted global beef trade, raising US prices and shifting exports through third countries like Mexico.

"I think we should be able to make some pretty good deals for both countries," Trump said.

Lula said he was optimistic relations between Brazil and the United States would advance during his meeting with Trump.

"There's no reason for having any other kind of conflict between Brazil and the United States," Lula said through a translator.

The leaders were speaking ahead of their meeting on the sidelines of the ASEAN summit in Kuala Lumpur on Sunday.

Trump increased tariffs on U.S. imports of most Brazilian goods to 50% from 10% in early August, linking the move to what he called a "witch hunt" against the South American country's former President Jair Bolsonaro.

Lula has previously described the tariff hike a "mistake", citing a US$410 billion U.S. trade surplus with Brazil over 15 years.

Higher U.S. tariffs on Brazilian goods have begun reshaping the global beef trade, pushing up prices in the United States and encouraging triangulation via third countries such as Mexico, while Brazilian exports to China continue to boom.