IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,223.89 ▲ 1.36% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL5.14▼ 1.18% USD/MXN16.90▼ 0.36% USD/CLP914.28▼ 0.85% USD/COP3,038▼ 0.43% USD/PEN3.35▼ 0.06% USD/ARS1,499▲ 0.12% USD/UYU40.20▲ 1.58% USD/PYG5,996▲ 1.55% USD/BOB11.43▲ 0.41% USD/DOP58.82▲ 0.20% USD/CRC450.05▲ 3.34% USD/GTQ7.62▲ 2.21% USD/HNL26.81▲ 0.31% USD/NIO36.62▲ 0.61% USD/VES778.00▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.79% EUR/BRL6.00▼ 0.64% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,223.89 ▲ 1.36% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Saturday, August 22, 2026

Brazil Politics - Brazil

Lula and Trump Agree to Restart Talks on US Tariffs

By · August 22, 2026 · 4 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

Brazil · TRADE

Key Facts

  • Call date Lula and Trump spoke by phone on Friday 21 August 2026.
  • Duration The call lasted between about an hour and an hour and twenty minutes.
  • Tariff dispute Lula called the allegations behind US tariffs unfounded and asked to resume talks.
  • Agreement Trump agreed that government teams should meet as soon as possible.
  • Next step Brazilian sources expect trade officials to meet in the coming week, but no date is set.

The two leaders spoke by phone on Friday, and both sides now want trade teams to meet soon.

Lula and Trump - the Brazilian flag on the Palácio do Planalto
The Brazilian flag on the façade of the Palácio do Planalto. Lula telephoned Trump on Friday 21 August 2026 to press for talks to resume. (Photo: Juliana Werneck, CC BY-SA 4.0, Wikimedia Commons.)
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
This story and the bigger picture.
Open the full Ask Rio Times →

Lula and Trump agreed to restart talks on US tariffs during a phone call on Friday 21 August 2026. The conversation lasted between about an hour and an hour and twenty minutes, according to reports.

What Lula and Trump Discussed

Lula and Trump spoke by phone on Friday 21 August 2026. The call lasted between about an hour and an hour and twenty minutes.

The conversation focused on US tariffs on Brazilian goods and on trade more broadly. Reports also mention organised crime and wider cooperation.

Lula Challenges Tariff Justification

During the call, Lula said the allegations used to justify the US tariffs were unfounded. He asked to resume negotiations.

A tariff is a tax a country charges on imports. A surcharge is an extra tariff added on top of the normal rate.

Trump Agrees to Meet Soon

Trump agreed that the two governments’ teams should meet as soon as possible. Both sides said they wanted to keep strong trade ties.

Brazilian sources say trade officials are expected to meet in the coming week. The meeting would involve Brazil’s trade minister and foreign ministry officials with US trade officials.

No Exact Date Yet

No exact date has been set for the trade meeting. However, both sides appear eager to move quickly.

Meanwhile, reports give different tariff levels on Brazilian goods. Some cite 25%, some 37.5%, and earlier 2025 coverage mentions 40% to 50%.

Substantial Surcharges Imposed

All reports agree that substantial surcharges were imposed before the August 2026 call. The exact rate remains unclear because sources disagree.

In fact, the disagreement over rates highlights the complexity of the trade dispute. Still, the surcharges have been a major point of tension.

Separate Criminal Group Dispute

Separately, on 29 and 30 May 2026, Lula publicly rejected the US designation of two Brazilian criminal groups as terrorist organisations. He called the designation interference and a slight to Brazilian sovereignty.

The groups are the PCC, Primeiro Comando da Capital, and Comando Vermelho. They are Brazil’s two largest criminal organisations.

Lula’s May Remarks

In May, Lula said the groups are terrorists for Brazilian communities but not the terrorists Trump imagines. This was a direct rejection of the US designation.

Although that dispute is separate from tariffs, it shows the broad range of issues between the two countries. Even so, the phone call on Friday covered multiple topics.

Trade Ties Remain Strong

Both Lula and Trump said they wanted to keep strong trade ties. This suggests a willingness to find common ground.

As a result, the upcoming trade meeting could ease tensions. After all, the two leaders have now agreed to restart talks.

What Comes Next for Lula and Trump

The next step is for trade officials to meet, likely in the coming week. However, no exact date has been set.

Overall, the phone call marks a positive turn after months of tariff friction. In short, Lula and Trump have opened a new channel for negotiation.

Frequently Asked Questions

When did Lula and Trump speak about tariffs?

They spoke by phone on Friday 21 August 2026. The call lasted between about an hour and an hour and twenty minutes.

What did Lula say about the tariffs?

Lula said the allegations used to justify the US tariffs were unfounded. He asked to resume negotiations.

What did Trump agree to do?

Trump agreed that the two governments’ teams should meet as soon as possible. Both sides said they wanted to keep strong trade ties.

When will trade officials meet?

Brazilian sources say trade officials are expected to meet in the coming week. However, no exact date has been set.

Connected Coverage

Sources: Brazilian presidency; Bloomberg; Reuters.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.