Summary
The United States and Brazil are close to finalizing a trade deal, according to Brazilian President Luiz Inacio Lula da Silva. Lula discussed the potential agreement with President Donald Trump during a meeting in Kuala Lumpur. The deal aims to address a 50 percent tariff the U.S. placed on Brazilian exports.
Key Facts
- Brazilian President Lula expects a trade deal with the U.S. to be completed soon.
- Lula and President Trump discussed the deal in Malaysia during the ASEAN summit.
- The U.S. imposed a 50 percent tariff on Brazilian exports in July.
- Lula has been working to reverse these tariffs, which he believes are based on incorrect information.
- Trump indicated a willingness to pursue a deal after talks with Lula.
- Lula and Trump's relationship has improved since a meeting in New York.
- Former Brazilian President Jair Bolsonaro is not part of the trade talks, according to Lula.
- Bolsonaro was sentenced to 27 years in prison for his involvement in a post-election coup attempt in Brazil.
