Trump ramps up tariffs and attacks Brazil's free PIX system

A BTG/Nexus poll released on June 15 found that 42% of Brazilian respondents blame Senator Flávio Bolsonaro for the United States’ new 25% tariff on Brazilian imports, which the Trump administration says is meant to punish President Lula’s government. The tariff is slated to take effect in July, while the United States Trade Representative Jamieson Greer has issued a document accusing Brazil’s instant‑payment system PIX of harming U.S. card issuers Visa and Mastercard. Greer claims the Central Bank’s dual role as regulator and operator creates a conflict of interest that disadvantages American payment providers.

Flávio and Eduardo Bolsonaro met with White House officials and offered Brazilian rare‑earth minerals and oil in exchange for U.S. support. President Lula responded by defending PIX as “non‑negotiable,” noting that it is free, used by 175 million people and processed 7.1 billion transactions worth nearly R$ 3 trillion in the previous month. The dispute highlights growing tension between Brazil’s domestic financial reforms and U.S. trade pressure.