The U.S. Trade Office opened a report against Brazil for alleged unfair trade practices — among them, Pix.
Finance Minister Fernando Haddad questioned the fact that the United States is investigating Pix while accepting the use of cryptocurrencies.
The statement was made in an interview with the newspaper O Estado de S.Paulo on Wednesday (16), in a context where the U.S. Trade Representative's Office opened a report against Brazil for alleged unfair trade practices — among them, Pix is mentioned by name.
"The United States should be copying Pix. Pix can be exported as a technology that will make people's lives much easier. You don't mind cryptocurrency and will mind Pix?" said the Minister of Finance.
Haddad did not provide further details on the reasons for putting the two systems in the same sentence, but it is implied that it concerns the open nature of the cryptocurrency market, where two people can transact tokens with each other without the need for any kind of permission from a centralizing entity.
Regarding the motivation of the United States for the series of measures against Brazil, Haddad says he is still trying to understand and that months ago he heard from the U.S. Treasury Secretary, Scott Bessent, that the then rate of 10% could be negotiated — now Brazil may face a rate of 50%.
"We are looking for what the rationale is, what is actually behind this initiative. Because, for example: we, in May, presented a negotiation proposal (to the then 10% tax)." he said. "Without there being even a response to the proposal that Brazil made, the 50% tax came."
On the 15th, U.S. Trade Representative Jamieson Greer said he initiated an investigation against Brazil for alleged unfair practices. The representative of the Trump administration stated that the investigation will determine whether the treatment given by Brazil to digital trade and Pix, in addition to trade tariffs, is "unreasonable or discriminatory and burdens or restricts" U.S. trade.
A week earlier, U.S. President Donald Trump announced that Brazilian products would be taxed at 50%. The reason would be the judiciary measures against U.S. technology companies and the trial of Jair Bolsonaro in the Supreme Federal Court. The former president is accused of attempting a coup d'état and Trump classified the process as a "witch hunt."
