Brazilian Finance Minister Fernando Haddad stated that Brazil and the United States are currently negotiating a tariff agreement.
Speaking on Sunday, Haddad said he discussed the issue with U.S. Treasury Secretary Scott Bessent, representing broader regional interests. He argued that imposing tariffs on South American countries doesn’t make sense, given their trade deficits with the U.S. “The key point right now is that we’re at the negotiating table working on the terms of an understanding,” Haddad told reporters in Los Angeles, where he was promoting investment in data centers. He praised Bessent’s willingness to engage, calling it a “very important openness to dialogue.” Bessent has been holding talks with global leaders following President Donald Trump’s April 2 announcement of sweeping tariffs, including a 10% levy on most imports from Brazil.
