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Brazil's President Lula and US President Trump met in Kuala Lumpur, signaling progress toward resolving US tariffs on Brazilian exports. Lula described the meeting as 'surprisingly good,' with both leaders optimistic about reaching an agreement soon, potentially easing tensions over tariffs imposed earlier this year.
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The Biden administration is set to announce exemptions on tariffs for certain food imports, including beef, citrus, coffee, and bananas, aiming to reduce consumer prices amid political pressure and recent election results highlighting affordability concerns. The move signals a shift from previous tariff policies.
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The EU and Mercosur have finalized a major free trade agreement after 25 years of negotiations, creating one of the world's largest trade zones. The deal aims to lower tariffs, boost exports, and send a geopolitical message amid global tensions. It now awaits ratification from EU and Mercosur legislatures.
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Mercosur's first major trade agreement is set to be signed in Paraguay, with Brazil's Lula absent from the ceremony. Lula's decision to send his foreign minister instead signals possible disappointment over the deal's timing and terms. The pact aims to create one of the world's largest free trade zones, impacting regional and global trade dynamics.