Banks defend PIX and say that the US government has incomplete information about the system

Why did PIX come into Donald Trump's sights? Understand
The Brazilian Federation of Banks (Febraban) came out in defense of PIX this Tuesday (2) after the instant payments system was cited in a United States commercial investigation that could result in new tariffs on Brazilian products.
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In a note, the entity stated that PIX is not a commercial product, but a payments infrastructure created by the Central Bank to increase competition and facilitate financial transactions. According to the federation, the American government's assessments of the system require additional clarification on its operation.
"PIX is a payment infrastructure, and not a commercial product, which favors competition and the proper functioning of the payment system and, consequently, economic activity", stated Febraban.
The note was released after the Office of the United States Trade Representative (USTR) released the conclusions of an investigation opened in July 2025, as determined by President Donald Trump. In the report, the body classifies a series of Brazilian policies as capable of restricting American trade and cites Pix among the measures analyzed.
According to Febraban, the Brazilian system operates under an open and non-discriminatory model, allowing the participation of banks, fintechs and national and foreign financial institutions.
The entity highlighted that there are no restrictions on the entry of new participants, regardless of the size or origin of the institution. As PIX is a local payment method and operates in reais, the only requirement is that companies operate in Brazil and follow the rules established by the Central Bank.
The federation also stated that it hopes that the contributions presented by the Central Bank and members of the Brazilian financial system during the public consultation process conducted by the USTR will help clarify the functioning of the tool.
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"We have good expectations that contributions from the Central Bank of Brazil and members of the Brazilian banking system, including American banks, will help clarify the conclusions of the American trade body", said the entity.
Febraban also highlighted that PIX was developed with the participation of banks and other financial institutions in the country and works as a platform accessible to Brazilians and foreigners residing in Brazil, both individuals and companies.
The entity added that the service is free for individuals, but can be charged to companies, without differentiating between national and foreign companies.
Trump government concludes that PIX is 'unfair': why does the Brazilian system bother the US so much and what can happen to it now?
Marcello Casal Jr/Agência Brasil
Understand the US investigation
The investigation was opened based on Section 301 of the Law of Trade of 1974, an instrument used by the United States to investigate practices considered harmful to the country's commercial interests.
Upon concluding the analysis, the USTR stated that some Brazilian policies could represent barriers to American trade. Among the points mentioned is PIX, which, in the agency's assessment, would have received treatment that would favor its expansion to the detriment of private companies in the payments sector.
The investigation's conclusions could serve as a basis for the imposition of an additional tariff of 25% on Brazilian products exported to the American market, increasing commercial pressure between the two countries.

Source: G1