Brazilian President Luiz Inacio Lula da Silva said on Wednesday that Brazil and the U.S. will hold negotiation talks on tariffs on Thursday.

Lula's remarks at an event in Rio de Janeiro followed a call between him and U.S. President Donald Trump last week in which Trump designated Secretary of State Marco Rubio to continue tariff negotiations with Brazilian officials. Brazilian Foreign Minister Mauro Vieira and Rubio agreed on a meeting last week.

Vieira and Brazilian technicians are in Washington preparing for Thursday's meeting, a source familiar with the matter told Reuters. "Trump called me and I asked to have a conversation without formalities," Lula said. "Tomorrow we will have the negotiation talk."

Brazilian markets have been closely watching potential developments after Brazil'

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