Brazil’s instant payment system, Pix, has become a major success story—but it’s now facing pressure from the United States. The Trump administration has launched a formal trade investigation into Pix, claiming it may unfairly harm American payment companies like Visa, Mastercard, and Meta.
Pix is a digital payment system created by the Central Bank of Brazil in 2020. It allows people to send and receive money instantly, 24/7, without paying high fees. Over 150 million Brazilians now use Pix, making it the country’s most popular payment method.
American officials say Pix could be creating an unfair market by lowering fees and giving local companies an advantage. They argue that Brazil’s central bank both runs and regulates the system, possibly shutting out foreign businesses. As a result, the U.S. has started a Section 301 trade investigation, which could lead to new tariffs on Brazilian goods.
Brazil’s President Lula has defended Pix, calling it a national success that helps millions of poor and rural citizens. His government says it will not accept attacks on Pix and launched a campaign under the slogan “Pix é Nosso” (“Pix is Ours”) to rally public support.
If the U.S. investigation finds that Pix breaks trade rules, it could lead to higher tariffs on Brazilian exports like coffee and soybeans, demands to open Brazil’s payment market to more U.S. companies, and strained relations between Brazil and the U.S.
Pix is praised globally for helping people access banking and make payments easily. But its impact on global businesses is now raising questions about how much control governments should have over financial technology.