The latest US squeeze on Brazil jeopardizes its financial autonomy
The Trump administration's determination to come up with new rationales for old tariffs has now targeted Brazil. This month, the US Trade Representative (USTR) suddenly concluded that a range of Brazilian policies are "discriminatory," justifying punitive tariffs under Section 301 of the Trade Act of 1974, the president's retaliatory authority. Among the practices singled out is PIX, Brazil's central bank–owned instant payment platform that processes most digital payments for Brazilians. Many US credit card companies have complained for years that this payment system discriminates against…
The Trump administration's determination to come up with new rationales for old tariffs has now targeted Brazil. This month, the US Trade Representative (USTR) suddenly concluded that a range of Brazilian policies are "discriminatory," justifying punitive tariffs under Section 301 of the Trade Act of 1974, the president's retaliatory authority. Among the practices singled out…
The Trump administration's determination to come up with new rationales for old tariffs has now targeted Brazil. This month, the US Trade Representative (USTR) suddenly concluded that a range of Brazilian policies are "discriminatory," justifying punitive tariffs under Section 301 of the Trade Act of 1974, the president's retaliatory authority. Among the practices singled out is PIX, Brazil's central bank–owned instant payment platform that processes most digital payments for Brazilians. Many US credit card companies have complained for years that this payment system discriminates against…