Brazil has notified the World Trade Organization and the U.S. Government that it will move forward on its requests for authorization for retaliation. Brazil’s requests, first submitted in 2005, claimed retaliation authority for about $3 billion for the “prohibited” subsidies (including the export credit guarantee program, which covers all U.S. commodities), and about $1 billion in retaliation authority for cotton “actionable” subsidies (including the marketing loan and countercyclical payments).
The National Cotton Council will work with the U.S. Trade Representative’s office to rebut these claims of damages. Cotton prices have risen substantially and are expected to remain high. The U.S. cotton program is not causing any economic damage to international cotton markets.
|
News Release Archives |