US President Donald Trump on Sunday (Oct 26) said that in his upcoming meeting with Brazilian President Luiz Inácio Lula da Silva, he could work out some deals between the two nations. He said that the two nations "should make good deals for both countries". Meanwhile, the Brazilian president also echoed Trump's sentiments and, in a statement, said that there was "no reason" for a conflict between Brazil and the US, and also revealed that he had an "agenda to discuss with Trump in writing". The leaders were speaking ahead of their meeting on the sidelines of the ASEAN summit in Kuala Lumpur on Sunday. The meeting comes as the two leaders seek to repair their relationship. Earlier, talking to reporters on board Air Force One, Trump had hinted at being open to reducing tariffs against Brazil “Under the right circumstances.”
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Trump tariffs and Brazil
After his return to the White House this year, Trump has imposed high tariffs on a number of nations, including Brazil. In August, he increased the tariff on US imports of most Brazilian goods to 50 per cent from the earlier 10 per cent. At the time, the POTUS linked the move to what he labelled a "witch hunt" against the South American country's former Brazilian president Jair Bolsonaro.
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Lula, meanwhile, citing a $410 billion US trade surplus with Brazil over 15 years, had described the tariff hike as a “mistake”. According to a Reuters report, because of the higher American tariffs on Brazilian goods, the global beef market has undergone a transformation, with prices increasing in the US, and an upward trend in trade through Mexico. Meanwhile, Brazil's sales to China have kept growing.
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