Brazil and US to start talks on tariffs ‘immediately’, says Lula after meeting Trump
&imwidth=600&imheight=450&format=webp&quality=medium "Brazil and US to start talks on tariffs ‘immediately’, says Lula after meeting Trump")
US President Donald Trump and Brazil’s President Luiz Inacio Lula da Silva at the ASEAn summit in Malaysia on Sunday. Photograph: (AFP)
Higher US tariffs on Brazilian goods have started affecting the global beef trade, pushing up prices in the United States and encouraging triangulation via third countries such as Mexico, while Brazilian exports to its biggest beef market, China, are booming.
Brazil’s President Luiz Inacio Lula da Silva said he had a positive meeting with US President Donald Trump on Sunday, and their respective teams will start discussions on tariffs and other matters “immediately.” Trump and Lula spoke on the sidelines of the ASEAN summit in Kuala Lumpur, Malaysia, in a meeting to overcome tensions between Brazil and the United States after Trump increased tariffs on US imports of most Brazilian goods to 50% from 10% in August. “We agreed that our teams will meet immediately to advance the search for solutions to the tariffs and sanctions against Brazilian authorities,” Lula said in a post on social media after the meeting.
Trump had linked the sharp tariff hike to the “witch hunt” against former president Jair Bolsonaro. The US government also imposed sanctions on a number of Brazilian officials, including Supreme Court Justice Alexandre de Moraes, who oversaw Bolsonaro’s trial.
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Ahead of the meeting, Trump said he could reach some agreements with Lula. “I think we should be able to make some pretty good deals for both countries,” Trump said.
‘Tariff hike a mistake,’ said Lula
Lula had earlier described the tariff hike as a “mistake”, citing a $410 billion US trade surplus with Brazil over 15 years.
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Brazil’s Foreign Minister Mauro Vieira said negotiations to work out solutions with the US delegation will start immediately.
Vieira said Brazil had requested that tariffs be suspended during the negotiation process but it was not clear if the United States agreed to the request.
US Treasury Secretary Scott Bessent, Secretary of State Marco Rubio and Trade Representative Jamieson Greer were present at the meeting, Vieira said.
Bolsonaro was not mentioned in the meeting, said Marcio Rosa, the executive secretary for Brazil’s ministry of development, industry and commerce.
Tariffs on Brazil pushing up beef, coffee prices in US
Higher US tariffs on Brazilian goods have started affecting the global beef trade, pushing up prices in the United States and encouraging triangulation via third countries such as Mexico, while Brazilian exports to its biggest beef market, China, are booming.
Brazil’s total beef exports, including fresh and processed meat, edible offal and tallow, generated $1.92 billion in revenue in September, with volumes reaching 373,867 metric tonnes, up 49% in value and 17% in volume year-on-year.
Brazil is also the world’s top coffee producer and exporter, while the United States is the biggest importer.
