United States Trade Representative Jamieson Greer alleged last month that Pix, Brazil's central-bank-operated instant-payments system, unfairly disadvantages American card networks Visa and Mastercard. The USTR proposed an additional 25% tariff on Brazilian goods in response to the complaint.

Brazilian President Luiz Inácio Lula da Silva rejected the pressure, stating that Pix is a Brazilian achievement and the country will not give it up. Lula has frequently criticized American economic influence in the region.

Right-wing senator Flavio Bolsonaro, son of former president Jair Bolsonaro and a political rival to Lula, echoed the refusal to abandon Pix. He suggested a compromise in which Brazil would commit not to connect Pix to cross-border payment rails that compete with U.S.-dominated financial infrastructure.

Pix launched in November 2020 and processes over 40 billion transactions annually, making it one of the world's most widely adopted instant-payment systems.