Decisions against Brazil by US are wrong, says Brazilian President Lula

Brazil's President Luiz Inacio Lula da Silva said on Monday that US President Donald Trump had "guaranteed" that the two countries would reach a deal on trade during a recent meeting between the two leaders.

Lula said recent decisions made by the United States against Brazil were "incorrect".

The Left-Wing leader said at a briefing on the sidelines of the ASEAN summit in Malaysia that his discussions with Trump had gone well and that an agreement would be reached "faster than anyone thinks."

The United States has imposed 50% tariffs on Brazilian products in retaliation against the sentencing of former president Jair Bolsonaro.

However, he said he would be willing to discuss any issue with Trump and was also willing to help the United States on the issue of Venezuela.

"I told him that it was extremely important to take into account Brazil's experience as the largest country in South America, as the most economically important country that has almost all of South America as a neighbour," Lula said.

Higher US tariffs on Brazilian goods have begun reshaping the global beef trade, pushing up prices in the United States and encouraging triangulation via third countries such as Mexico, while Brazilian exports to its biggest beef market, China, are booming.

Brazilian beef industry group Abiec said it viewed the meeting between the two leaders as a positive step.

"The understanding between the two countries can preserve the competitiveness of the Brazilian product, guarantee predictability for exporters and expand the presence of (Brazilian) beef in the North American market," it said in a statement.

Globally, Brazil's total beef exports, including fresh and processed meat, edible offal and tallow, generated $1.92 billion in revenue in September, with volumes reaching 373,867 metric tons, up 49% in value and 17% in volume year-on-year.

Brazilian coffee industry group ABIC said it was confident in the historic partnership between the two countries. Brazil is the world's top coffee producer and exporter, while the United States is the biggest importer.

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