Brazil and U.S. Engage in Tariff Negotiations for Economic Understanding

Brazilian Finance Minister Fernando Haddad announced discussions with U.S. Treasury Secretary Scott Bessent concerning tariffs. The negotiations aim to counteract the trade deficits between South America and the U.S. Haddad emphasizes the significance of maintaining open communication to reach a mutual understanding and enhance international trade relations.

Brazilian Finance Minister Fernando Haddad revealed that negotiations are underway between Brazil and the United States regarding tariffs. Haddad, speaking in Los Angeles, highlighted discussions with U.S. Treasury Secretary Scott Bessent, urging for resolutions due to South America's trade deficits with the U.S.

Haddad appreciated Secretary Bessent's openness to dialogue, indicating potential progress towards economic compromise. The talks follow U.S. President Donald Trump's recent announcement of extensive tariffs, including a 10% duty on most U.S. imports from Brazil.

These negotiations could represent a crucial step towards enhancing economic relationships and alleviating trade imbalances, with leaders on both sides expressing hope for a favorable outcome.

(With inputs from agencies.)