US Targets Brazil's Pix with 25% Tariff Amid Dollar Stablecoin Surge

The US Trade Representative has taken action against Brazil's instant-payment system, Pix, naming it as part of unfair trade practices in a report released on July 15. The move follows a year-long investigation into digital trade and electronic payments.

The final tariff notice states that the 25% duty will take effect on July 22, with exemptions for products. Pix has become a core part of everyday payments since its launch by the Central Bank of Brazil in 2020, processing 63 billion transactions worth BRL 26.4 trillion in 2024.

The trade dispute comes as dollar-linked stablecoins continue to gain ground in Brazil's digital asset market. Stablecoins account for about 90% of reported crypto flows, with users often turning to dollar-linked tokens for payments and value transfer.