Kuala Lumpur (Brussels Morning Newspaper) – U.S. President Donald Trump mentioned he could negotiate some agreements during his meeting with Brazilian President Luiz Inacio Lula da Silva in Malaysia, following his role in overseeing the signing of a peace treaty between Thailand and Cambodia.
The US president, during his initial Asia-Pacific tour, arrived in Malaysia on Sunday. After a 24-hour journey to Kuala Lumpur, the Malaysian capital, he led a peace treaty ceremony between Cambodia and Thailand.
What did Trump say about potential deals with Brazil?
Donald Trump met with Brazilian President Luiz Inacio Lula da Silva on the sidelines of the 47th Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur.
“I think we should be able to make some pretty good deals for both countries,”
Trump said.
Trump said he does feel badly about the fate of Brazil’s ex-President Jair Bolsonaro, who has been sentenced to 27 years in prison for attempting a coup.
Lula expressed optimism that his meeting with [person] would help improve relations between Brazil and the United States under Trump.
“There’s no reason for having any other kind of conflict between Brazil and the United States,”
Lula conveyed through a translator.
How are US-Brazil trade tensions affecting global markets?
In early August, Trump raised tariffs on most Brazilian imports to 50% from 10%, citing a “witch hunt” against former President Jair Bolsonaro. Lula previously called the tariff increase a “mistake,” pointing to a $410 billion U.S. trade surplus with Brazil over 15 years.
Higher U.S. tariffs on Brazilian goods are starting to alter the global beef trade, leading to increased prices in the United States and promoting triangulation through third countries like Mexico. Meanwhile, Brazilian exports to China remain on the rise.
What other agreements did Trump announce in malaysia?
During his meeting with Lula, Trump also talked to reporters about trade relations with China. He stated that he expects a fair meeting with Chinese President Xi Jinping, whom he is expected to meet in person in South Korea later during his Asia trip. He also expressed hope for reaching a deal.
Moreover, the US and Vietnam issued a joint statement outlining their consensus on a
“Framework for an Agreement on Reciprocal, Fair, and Balanced Trade”.
The framework will offer exporters from both countries unprecedented access to each other’s markets, according to a statement published by the White House. Trump also announced a trade deal with Cambodia and a critical minerals agreement with Thailand.
