Why Does Brazil's PIX Payment System Bother Donald Trump?
The trade case argues Pix favors Brazilian firms and could raise dollar-clearing costs for lenders if US banks pull back.
8 Articles
8 Articles
To buy a fresh coconut on the beach or pay its rent, the PIX electronic system has become the dominant payment method in Brazil.
Now in the g1 What started as a tool for instant money transfers has become one of the most used means of payment by Brazilians. In a few years, PIX began to lead the transactions in the country and now also entered the center of a trade dispute between Brazil and the United States. 的Like the g1 on Google and follow the main news of the day A few months after the Brazilian presidential elections, the payment system created by the Central Bank be…
Why does Brazil's PIX payment system bother Donald Trump?
US President Donald Trump does not like it one bit. The payment system, launched in 2020 by the central bank, has become a bone of contention between Washington and the government of President Luiz Inacio Lula da Silva, who is seeking re-election in three months. The United States argues that PIX amounts to unfair competition and hurts US credit card companies. "You don't have to pay any fees for PIX; with banks, you have to pay credit card fees…
It began as a system for transferring money and is now a source of Brazilian pride. In a few years, the PIX became the dominant means of payment for the largest economy in Latin America. But in the process it stepped on Donald Trump.
How Brazil's Pix Became a Target of US Financial Power
Markets Key Facts —The target. Brazil’s Pix payment system, run by the central bank, has been named in a US trade case as a barrier to American firms. —The deadline. Washington faces a July 15 statutory deadline to act on a proposed 25 percent tariff on Brazilian goods. —The second track. A June 5 US […] The post How Brazil’s Pix Became a Target of US Financial Power appeared first on The Rio Times.
The US administration is concerned about the growth of PIX, a payment system designed by the Brazilian Central Bank, which represents a strategic issue for the control of financial infrastructure. On the other hand, Wave, although impacting Senegal, does not generate the same diplomatic tension, revealing divergent visions of economic sovereignty.Article SeneNews Premium — full content reserved for subscribers.
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