Business

USA removes Brazil from the list of developing countries

The U.S. Department of Commerce reported its decision to remove Brazil from the list of developing countries, which may restrict trade benefits granted to nations in this category. Some practical consequences for Brazil may include the end of the unilateral exemption of export tariffs by the Generalized System of Preferences (GSP), the right to partial trade agreements with other developing countries, and part of the loans from the World Bank. Another 18 countries were also excluded, amongst them Argentina, Colombia, India and South Africa.

Source: Gaúcha