Trump discusses trade & economy with his Brazilian counterpart Lula

US President Donald Trump engaged in a telephonic conversation with his Brazilian counterpart, Luiz Inacio Lula da Silva. Both leaders reportedly discussed trade and economy, Trump posted on social network Truth Social.

"This morning, I had a very good telephone call with President Lula, of Brazil. We discussed many things, but it was mostly focused on the Economy, and Trade, between our two Countries. We will be having further discussions, and will get together in the not too distant future, both in Brazil and the United States. I enjoyed the call — Our Countries will do very well together!" wrote Trump.

The phone call was described by both sides as "friendly" and "positive", according to foreign media.

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The conversation between Trump and Lula comes at a time when Brazil seeks to negotiate a lower US duty. Currently, imports from the Latin American country into the US attract a levy of 50 per cent -- the highest under the Trump 2.0 administration.

Lula reportedly asked Trump to remove most of the duties on Brazil.

The exchange marked the first formal conversation between the leaders since they met briefly at the United Nations General Assembly in New York last month.

According to the Brazilian government, the call between the two leaders on Monday went on in a "friendly tone" for about half an hour.

Both leaders, according to Brazil, "reminisced about the good chemistry" they shared in New York.

Earlier, Lula reportedly described the meeting as an opportunity to "restore" friendly relations between "the two largest Western democracies".

The Brazilian president has sought a revision in the levy back to the original 10 per cent along with a removal of the sanctions on some Brazilian officials.

Both leaders exchanged phone numbers and promised to stay in touch directly.

What Brazilian Vice President said about Lula-Trump call

The Brazilian Vice-President, Geraldo Alckmin, described the phone call between Lula and Trump as "better than expected", expressing hope that talks between the two countries progress.

Lula invited Trump to next month's UN climate summit in Belem, Brazil. He also proposed to meet Trump during the ASEAN summit in Malaysia.

Trump has appointed Secretary of State Marco Rubio to continue negotiations with Brazil's vice president, foreign minister and finance minister.