Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Trump's change of heart on Lula may be thanks to Brazilian beef tycoon
    Headlines

    Trump's change of heart on Lula may be thanks to Brazilian beef tycoon

    Trump's change of heart on Lula may be thanks to Brazilian beef tycoon

    Published by Global Banking and Finance Review

    Posted on September 25, 2025

    Featured image for article about Headlines

    By Luciana Magalhaes and Bernardo Caram

    SAO PAULO (Reuters) -A co-owner of Brazilian meatpacking giant JBS met privately with U.S. President Donald Trump about three weeks before Trump extended a surprise olive branch to Brazil's president in his United Nations speech on Tuesday, three people with knowledge of the encounter told Reuters.

    That meeting helped pave the way for Trump to take a more favorable tone towards Lula at the U.N., two of the sources said.

    On Tuesday, Trump praised Brazilian President Luiz Inacio Lula da Silva, despite months of sparring between the two leaders over what the White House has called a "witch hunt" in Brazil against a Trump ally. 

    "We had a good talk, and we agreed to meet next week," Trump said. "At least for about 39 seconds, we had excellent chemistry," he added.

    In July, the White House imposed 50% tariffs on most Brazilian imports, including meat, potentially jarring the supply chain for food companies including JBS and its subsidiary Pilgrim's Pride.

    It was in the following weeks that JBS co-owner Joesley Batista managed to set up a meeting with Trump, first reported by newspaper Folha de Sao Paulo.

    JBS declined to comment, and the White House did not immediately respond to a request for comment.     

    According to one of the people with knowledge of the conversation, Batista told Trump that the tariffs he had imposed on Brazilian products were making beef too expensive for Americans. 

    The levies were cited by the White House as retaliation against what Trump believed to be an unfair persecution of former Brazilian President Jair Bolsonaro, a right-wing firebrand who this month was convicted of plotting a coup to remain in power after he lost the 2022 election.

    OTHER MEETINGS

    JBS became a publicly traded company in the United States in June, a move into the American market that added exposure for the company to White House policy.

    Pilgrim's Pride, its poultry producer subsidiary, gave a $5 million donation to the Trump-Vance Inaugural Committee, saying it had a "long bipartisan history of participating in the civic process."

    Joesley and his brother Wesley Batista also have been seen with Lula at public events several times. Loans from Brazil's development bank to JBS under a previous Lula administration helped it grow into the world's biggest meatpacker. 

    The Batistas later admitted to bribing 1,800 politicians as part of a sprawling anti-corruption probe.

    JBS has said that meetings with public officials adhere to its code of conduct.

    Other business leaders from Brazil have been meeting with Trump administration officials in recent weeks to lobby for lower tariffs.

    Embraer Chief Executive Francisco Gomes Neto told Reuters earlier this month that he was trying to arrange meetings to discuss tariffs on the planemaker's products.

    The company scored a victory when the White House excluded plane parts from the 50% levies imposed on most Brazilian goods. But 10% tariffs still apply to Embraer's products.

    Neither Brazil nor U.S. officials have shared any further details about a possible Trump-Lula meeting next week.

    But Lula told reporters in New York on Wednesday that he was willing to meet with Trump in person, and that they would put "everything on the table." 

    "What once seemed impossible stopped being impossible and actually happened," Lula said.

    (Reporting by Luciana Magalhaes in Sao Paulo and Bernardo Caram in Brasilia; additional reporting by Gabriel Araujo in Sao Paulo; editing by Manuela Andreoni, Christian Plumb and Rosalba O'Brien)

    Related Posts
    Analysis-Gold forecast to glitter again next year despite biggest gain since 1979
    Analysis-Gold forecast to glitter again next year despite biggest gain since 1979
    UK police plan tougher action against antisemitic chants and protests
    UK police plan tougher action against antisemitic chants and protests
    Explainer-What's next for the Gaza ceasefire and will the truce last?
    Explainer-What's next for the Gaza ceasefire and will the truce last?
    Warner Bros Discovery board rejects rival bid from Paramount
    Warner Bros Discovery board rejects rival bid from Paramount
    UK issues ultimatum to Abramovich over 2.5 billion pound Chelsea sale proceeds
    UK issues ultimatum to Abramovich over 2.5 billion pound Chelsea sale proceeds
    European parliament approves citizens' initiative to help abortion access across EU
    European parliament approves citizens' initiative to help abortion access across EU
    UK's Duke of Marlborough charged with intentional strangulation
    UK's Duke of Marlborough charged with intentional strangulation
    Ukraine says it controls 90% of Kupiansk, Russia denies it
    Ukraine says it controls 90% of Kupiansk, Russia denies it
    Freed Nobel laureate Bialiatski sees Belarus sliding back to Soviet times
    Freed Nobel laureate Bialiatski sees Belarus sliding back to Soviet times
    Cyberattack on French interior ministry's email servers compromised more than 20 files
    Cyberattack on French interior ministry's email servers compromised more than 20 files
    WTO chair rules out reform deal at next major meeting, document shows
    WTO chair rules out reform deal at next major meeting, document shows
    EU Parliament approves phase out of Russian gas imports
    EU Parliament approves phase out of Russian gas imports

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Headlines

    Explore more articles in the Headlines category

    Putin says Russia will achieve war goals, keep expanding 'buffer zone'

    Putin says Russia will achieve war goals, keep expanding 'buffer zone'

    Italy's Meloni says it's still 'premature' to sign EU-Mercosur trade deal

    Italy's Meloni says it's still 'premature' to sign EU-Mercosur trade deal

    Russian attack on Ukraine's Zaporizhzhia injures 26, governor says

    Russian attack on Ukraine's Zaporizhzhia injures 26, governor says

    Decline in UK industrial orders eases slightly, CBI says

    Decline in UK industrial orders eases slightly, CBI says

    Italy's Meloni says using frozen Russian assets for Ukraine 'far from easy' ahead of EU summit

    Italy's Meloni says using frozen Russian assets for Ukraine 'far from easy' ahead of EU summit

    UK announces four Syria sanctions de-listings, one under Iran sanctions regime

    UK announces four Syria sanctions de-listings, one under Iran sanctions regime

    How combative videographers fire up Britain's asylum hotel protests

    How combative videographers fire up Britain's asylum hotel protests

    UK police charge teenage boy with nine-year-old girl's murder

    UK police charge teenage boy with nine-year-old girl's murder

    Paris' Louvre reopens partially but staff vote to extend strike

    Paris' Louvre reopens partially but staff vote to extend strike

    Portugal's government to amend labour reform after general strike

    Portugal's government to amend labour reform after general strike

    Kremlin says Russia's position on European troops in Ukraine is known but open to discussions

    Kremlin says Russia's position on European troops in Ukraine is known but open to discussions

    UK will rejoin EU's Erasmus+ student exchange scheme

    UK will rejoin EU's Erasmus+ student exchange scheme

    View All Headlines Posts
    Previous Headlines PostExclusive-Swedish Fish maker Mondelez will switch food dyes to natural, not synthetic
    Next Headlines PostMeta unveils new AI video feed Vibes