FX.co ★ Brazil Eyes Quick Trade Accord with U.S.

During the ASEAN summit in Malaysia, Brazilian President Luiz Inácio Lula da Silva announced that U.S. President Donald Trump had promised a forthcoming trade agreement between the two countries. The statement followed Lula and Trump's recent discussions, which Lula described as positive. He confidently anticipated that a deal could be finalized "sooner than anticipated." This announcement arrives amid rising tensions following the U.S.'s imposition of 50% tariffs on Brazilian goods, a move in retaliation for the sentencing of former President Jair Bolsonaro. Although Lula expressed his disapproval, labeling the U.S. action as "inappropriate," he conveyed a willingness to engage in dialogue. Lula indicated his openness to discussing various issues with Trump and even extended an offer to assist on matters concerning Venezuela.