U.S. proposal cuts Brazilian trade benefits but helps Haiti

A Republican legislative bill would drop vital trade benefits to Brazil but would grant additional trade benefits to Haiti. The president for Oxfam America called the proposal “troubling” for developing countries like Brazil though the bill would reflect Democratic representative Charlie Rangel’s desire to help Haiti.

Meanwhile, stocks in developing markets took a hit on Friday partly due to anxiety over a slowdown in the U.S. economy.

Link- Washington Post, Reuters South Africa

Image- the Globalist

Tags- international economy, stocks, free trade, Haiti, Brazil