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

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.)