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Business

Brazil wins right to impose sanctions on US in cotton dispute

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Text by NEWS WIRES

Latest update : 2009-08-31

The World Trade Organisation has given Brazil the right to take retaliatory sanctions against the US of up to 147.4 million dollars for 2006 and other payments for subsequent years, ending a dispute over subsidies for US cotton farmers.

AFP - The World Trade Organisation on Monday ruled that Brazil could take retaliatory sanctions against the United States in a dispute over US cotton subsidies.
  
The WTO said Brazil could seek to "suspend concessions or other obligations" on US trade equivalent to up to 147.4 million dollars (103 million euros) for 2006, and, for subsequent years, an annual amount to be determined by applying a specific mathematical equation.
  
Brazil, which first brought the case to the trade bloc in 2002, had sought 2.5 billion dollars (2.0 billion euros) from the United States.
  
Reacting to Monday's ruling, Washington said it was disappointed with the overall outcome of the dispute.
  
But the US Trade Representative's office added in a statement that it was "pleased" that arbitrators had "awarded Brazil far below the amount of counter measures it asked for."
  
Brazil had sought sanctions after a WTO panel upheld a Brazilian complaint that the United States had breached trade rules over its subsidies for cotton farmers.
  
According to Brazil, total US cotton subsidies were worth 12 billion dollars between 1999 and 2002.

Date created : 2009-08-31

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