Lula Vows to Defend Brazil's Pix Payment System Against US Tariffs
Brazilian President Luiz Inacio Lula da Silva plans to defend his country's Pix payment system in talks with US President Donald Trump. The platform, launched by Brazil's central bank in November 2020, allows instant payments and transfers 24 hours a day, seven days a week.
Lula made the announcement at a political event in Sao Jose do Rio Preto, where he also criticized the US decision to revoke the visa of Brazil's ambassador to Washington. The move was seen as retaliatory for Brazil's refusal to issue visas to two US officials and delays in approving Trump's nominee for ambassador to Brazil.
The trade dispute between the two countries includes additional tariffs of up to 25 percent on certain Brazilian products. Lula plans to raise the issue with Trump during a possible meeting at the UN General Assembly in New York, where he will 'tell him to use Pix and see how good it is.'