"The most important thing right now is to say that we are at the table negotiating the terms of an agreement," said Fernando Haddad during a business trip to Los Angeles.

Brazilian Finance Minister Fernando Haddad said Brazil and the United States are negotiating the terms of a tariff agreement.

Haddad said Sunday that he spoke with U.S. Treasury Secretary Scott Bessent "on behalf of the region," saying it makes no sense to impose tariffs on South America given the countries' trade deficits with the United States.

"The most important thing right now is to say that we are at the table negotiating the terms of an agreement," Haddad told reporters in Los Angeles, where he traveled to discuss data center investments.

"I think the secretary's approach was very fruitful and demonstrated a very important openness to dialogue," he added.

Bessent has met with leaders from several countries since U.S. President Donald Trump announced steep tariffs on April 2. Brazil was included in a 10% tariff on most of its exports to the United States.