"We're going to work on a free trade agreement with Brazil," Trump told reporters at the White House without giving any other details.
The Trump administration imposed steel and aluminum tariffs on Brazil and a number of other countries last year as it sought to shore up the US metals industry amid Trump's "America First" agenda.
Since then, Brazil far-right President Jair Bolsonaro won the presidency in a victory often compared to Trump's in their shared conservative and populist politics, and has since visited the White House.
"Brazil is a big trading partner. They charge us a lot of tariffs, but other than that we love the relationship," Trump told reporters on Tuesday, citing what he called his great relationship with Brazil and praising Bolsonaro.