President Lula defends Pix payment system amid US tariff dispute

Brazilian President Luiz Inacio Lula da Silva said on Saturday (5/9) that he will defend Brazil’s Pix payment system in talks with US President Donald Trump, after Washington raised the platform in its tariff dispute with Brazil.

Speaking at a political event in Sao Jose do Rio Preto, Sao Paulo State, southeastern Brazil, Lula said he would raise the issue in a possible meeting with Trump in September on the sidelines of the United Nations General Assembly (UNGA) in New York.

“I will meet with Trump at the UN and ask him to use Pix so he can see for himself how good the system is,” Lula said.

Pix was launched by Brazil’s central bank in November 2020 and allows instant payments and transfers 24 hours a day, seven days a week. The system has become one of the main payment methods in Brazil.

Lula’s statement came amid a trade dispute between Brazil and the US, including the imposition of additional tariffs of up to 25 percent on certain Brazilian products as well as US criticism of Brazil’s digital payment system.