Key facts
- Senator Flavio Bolsonaro testified against a proposed 25% U.S. tariff on Brazilian goods.
- Bolsonaro defended Brazil's Pix instant payment system, which the U.S. Trade Representative (USTR) views as an unfair threat to Visa and Mastercard.
- The USTR is considering the tariffs under Section 301, accusing Brazil of unfair trade practices.
- The proposed tariffs would exempt certain goods like beef and coffee but impact industries such as footwear and fishing.
- A final decision on the tariffs is expected by July 15.
Brazilian Senator Flavio Bolsonaro has voiced opposition to a proposed 25% U.S. tariff on Brazilian goods, arguing that the Pix instant payment system, which Washington claims unfairly threatens Visa and Mastercard, is a solution rather than a problem. Bolsonaro, a presidential hopeful, made his case to the U.S. Trade Representative (USTR) during public hearings, emphasizing the system's popularity and the upcoming October election in Brazil. The USTR, which accused Brazil of unfair practices, is expected to make a final decision on the tariffs by July 15. While some Brazilian goods like beef and coffee would be exempted, others such as footwear and fishing exports could be impacted.