By Marcela Ayres
BRASILIA, July 21 (Reuters) - Brazil's Pix, one of the world's most successful instant-payment systems, has become a flashpoint between Brasília and Washington as the Trump administration aims to protect U.S. firms from the model's growing appeal in dozens of countries.
U.S. Trade Representative Jamieson Greer named Pix, operated by Brazil's central bank, as one of the barriers to trade that he cited to justify fresh 25% tariffs on imports from Brazil taking effect this week.
"We're not asking Brazil to get rid of Pix," a senior Trump administration official said. However, Washington is pushing to avoid a situation in which "Pix gets special treatment simply because it's owned and operated by the government," the official said.
Brazilian officials have long argued the criticism is aimed at protecting U.S. credit card companies. USTR documents say that Brazil's practices "may undermine the competitiveness of U.S. companies engaged in digital trade and electronic payment services."
#Brazil #administration
BRASILIA, July 21 (Reuters) - Brazil's Pix, one of the world's most successful instant-payment systems, has become a flashpoint between Brasília and Washington as the Trump administration aims to protect U.S. firms from the model's growing appeal in dozens of countries.
U.S. Trade Representative Jamieson Greer named Pix, operated by Brazil's central bank, as one of the barriers to trade that he cited to justify fresh 25% tariffs on imports from Brazil taking effect this week.
"We're not asking Brazil to get rid of Pix," a senior Trump administration official said. However, Washington is pushing to avoid a situation in which "Pix gets special treatment simply because it's owned and operated by the government," the official said.
Brazilian officials have long argued the criticism is aimed at protecting U.S. credit card companies. USTR documents say that Brazil's practices "may undermine the competitiveness of U.S. companies engaged in digital trade and electronic payment services."
#Brazil #administration
3 months ago
