Kuala Lumpur [Malaysia], October 27 (ANI): United States President Donald Trump met with Brazilian President Luiz Inacio Lula da Silva on the sidelines of the ASEAN summit being held in Kuala Lumpur, Malaysia, and expressed optimism in making 'some pretty good deals' for both countries.

'It's a great honor to be with the President of Brazil... I think we should be able to make some pretty good deals for both countries... We always have had a good relationship -- I think it will continue,' President Trump said, as quoted by the White House on X.

The meeting between the two leaders took place on October 26 and occurred amid the imposition of at atleast 50% tariffs by the United States on various goods. The Brazilian president has said that both the US and Brazilian teams agreed to 'meet immediately' to discuss the tariffs.

'I had a great meeting with President Trump on Sunday afternoon in Malaysia. We discussed the bilateral trade and economic agenda in a frank and constructive manner. We agreed that our teams will meet immediately to advance in the search for solutions to the tariffs and sanctions against Brazilian authorities,' Lula posted on X.

As part of his visit to Malaysia for the ASEAN summit, President Trump has also signed reciprocal trade agreements with Cambodia and Malaysia and a framework agreement with Thailand and Vietnam.

US President Donald Trump and Malaysian Prime Minister Anwar Ibrahim also oversaw the signing of a peace accord between Phnom Penh and Bangkok.

'Alongside this peace treaty, we are also signing a major trade deal with Cambodia and a very important critical minerals agreement with Thailand,' Trump said.

'I thank my counterparts from Malaysia, Cambodia, Thailand, and Vietnam for their collaboration and commitment in achieving a more balanced trade relationship with the United States,' he added.

A framework for reciprocal trade between the US and Thailand would see the United States maintain a 19 per cent tariff on Thai products while identifying products where tariffs could potentially be adjusted or cut to zero.

Thailand would in turn eliminate tariff barriers on approximately 99 per cent of goods, covering a full range of US industrial and food and agricultural products, the two countries said in a joint statement issued by the White House. (ANI)