Trump: 'We'll See What Happens' on 50% Brazilian Tariff
President Donald Trump told reporters Oct. 27 that he had a good meeting with Brazil's president while he was in Malaysia. "We'll see what happens. I don't know if anything's gonna happen, but we'll see. They'd like to do a deal. We'll see. Right now they're paying, I guess, a 50% tariff. But we had a great meeting."
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The 50% tariff is a combination of the original 10% tariff and 40% additional tariff. That latter amount has hundreds of carve-outs, including orange juice, Brazil nuts, iron ore, pig iron, oil products, wood and more.
President Lula da Silva posted on X, according to an unofficial translation, "I had a great meeting with President Trump on this Sunday afternoon in Malaysia. We discussed the bilateral trade and economic agenda in a frank and constructive manner. We agreed that our teams will meet immediately to advance in the search for solutions to the tariffs and sanctions against Brazilian authorities."
He later wrote, "I return to Brazil satisfied with the meeting I had with President Trump. If it depends on him and me, we will have a deal. We are willing to ensure that Brazil and the United States continue with the relationship we have already cultivated for 201 years."
In a press conference interpreted into English in Malaysia, da Silva said his impression of the meeting was that "soon we will not have any more issues between the U.S. and Brazil."