Senator Flavio Bolsonaro proposed to the US Trade Representative on July 2 that Brazil bar PIX from connecting to non-Western cross-border settlement systems. The proposal targets PIX's cross-border expansion potential, framing the restriction as a concession to address US allegations that BCB's mandatory PIX rules discriminate against American payment services.
USTR must announce its final Section 301 determination by July 15, with proposed remedies including 25 percent additional tariffs on most Brazilian-origin goods. Two days of public hearings begin July 6 at the US International Trade Commission in Washington. US payment firms including Visa, Apple, and Google have argued that BCB's requirement for institutions to offer PIX no less prominently than competing services constitutes an unfair trade barrier.
President Lula rejected the proposal, characterizing it as an attempt to hand PIX over to foreign interests. Bolsonaro, who has received endorsement from the Trump administration, is positioning himself for Brazil's October presidential election.