USTR Claims Brazil's Pix Restricts U.S. Commerce, Proposes Tariffs in Section 301 Action

According to a June report from the U.S. Trade Representative (USTR), Brazil's Pix instant payment system burdens or restricts U.S. commerce by imposing costs on U.S. services providers and forcing them to promote their Brazilian competitor without compensation. The USTR determined the acts and policies are actionable under Section 301(b) of the Trade Act, citing the central bank's dual role as Pix's regulator and operator as creating a conflict of interest.

Brazil's government rejected the preliminary conclusions, stating Pix is a free public infrastructure operated by the Central Bank with rules applied uniformly and neutrally to all companies. President Lula defended the system, which processed over 7 billion transactions in April, declaring: "Pix belongs to Brazil, and no one is going to force us to change it."