Trump-Lula Oval Office talks expose lingering strain despite warm words
President Trump and Brazil's Lula met behind closed doors at the White House, declined to appear together publicly, and afterwards traded measured compliments that papered over deep policy gaps.
The White House said Friday's meeting lasted about ninety minutes. Trump's 50% tariff on Brazilian steel and ethanol, and rising deforestation in the Amazon, dominated the agenda alongside disagreements over Venezuela and BRICS de-dollarisation moves.
Lula, briefing reporters back in Brasilia, said 'the channel of dialogue is open, but we will continue to protest Washington's unilateral tariff decision.' Trump called Lula 'a very strong leader' on Truth Social but offered no concrete timetable for trade negotiations.
The real closed the week down 1.2% against the dollar. Henrique Meirelles, a former central bank governor, said the meeting was 'symbolic' and that investors were waiting for substantive agreements. Brazil's Bovespa index ended the week 0.8% lower.
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