Crypto▼ Bearish
Trump targets Brazil's Pix as dollar stablecoins rise
US slaps 25% tariff on Brazilian imports over Pix policy, citing unfair digital trade practices. Stablecoin use in Brazil hits 90% of reported crypto flows, testing the boundary between local payments and digital dollars.
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The United States plans a 25% tariff on most Brazilian imports after the U.S. Trade Representative named the country's Pix instant-payment system among trade practices it considers unfair. The duty takes effect July 22, with exemptions for some products.
The July 15 action followed a year-long Section 301 investigation covering digital trade and electronic payments. USTR said Brazil has "unfairly disadvantaged" American payment companies through policies that favor Pix. The agency did not impose a separate tariff on the payment system itself. It listed electronic payments among the practices used to justify the goods tariffs.
Pix has become a pillar of everyday payments since Brazil's central bank launched it in 2020. The central bank said the system processed 63 billion transactions worth BRL 26.4 trillion in 2024. Its adoption has squeezed card networks and other payment services.
The trade fight coincides with a surge in dollar-pegged stablecoin use in Brazil. The central bank has said stablecoins account for about 90% of reported crypto flows. Users often turn to dollar-linked tokens for payments and value transfer, creating a gap between domestic payment policy and demand for digital dollars.
Tether-backed Oobit added Pix support in June, letting users deposit reais, hold USDT and pay through Pix keys or QR codes. The product runs stablecoins behind an interface built around a familiar payment method, as reported by crypto.news.