U.S. Trade Office Recommends 25% Tariff Over Brazil’s Pix; Brasília Vows to Defend System

Overview

• The U.S. Office of the Trade Representative has concluded an investigation and recommended a 25% tariff on certain Brazilian goods, citing practices it says favor Pix and harm U.S. competitors.
• The USTR’s central allegation is that Brazil’s central bank acts as both regulator and operator of Pix, a role the U.S. says creates a conflict that advantages the instant-payment system.
• Banco Central president Gabriel Galípolo said the bank is supplying personnel and documents to USTR investigators and defended Pix as a widely copied, modern payment tool used by other countries.
• Brazil’s planning minister Bruno Moretti said the government will not abandon Pix and said Brasília could offer targeted support and credit lines to exporters if the tariff is imposed.
• The recommendation has not taken effect; a statutory contestation period and a public USTR hearing remain, and analysts say the case also reflects broader competition with U.S. card networks and geopolitics around cross-border payment systems.