Trump, Lula Signal Possible U.S.-Brazil Trade Deal

Brazil’s president Luiz Inácio Lula da Silva said U.S. president Donald Trump “guaranteed” the two countries would reach a trade deal after what Lula described as productive talks on the sidelines of the ASEAN summit, and he predicted an agreement could come faster than expected. U.S. officials and the White House say a Trump–Lula meeting in Malaysia is under discussion and could still happen during the summit, and Trump publicly said he might consider cutting tariffs on Brazil “under the right circumstances.” Brazil is seeking relief from punitive U.S. levies — including reported 50% tariffs on key goods imposed after the sentencing of former president Jair Bolsonaro — and hopes renewed dialogue will prompt tariff reductions. While pursuing talks with Washington, Lula deepened ties in Asia, signing cooperation pacts with Indonesia on farm-trade rules, energy, mining, science and defense and promoting local-currency trade. U.S. and Brazilian officials continue to negotiate timing and details of any Malaysia meeting as both sides weigh trade and broader geopolitical cooperation.