MEMPHIS, Tenn. -- National Cotton Council Chairman Eddie Smith stated that the U.S. cotton industry viewed the agreement between the United States and Brazil regarding the ongoing World Trade Organization dispute as a meaningful way forward for the two countries.
"The agreement announced today is a positive development in this very long dispute and signals a path forward for the United States and Brazil,” Smith said. “The agreement provides a roadmap for the two countries to come to a long-term solution regarding this trade dispute without resorting to harmful retaliation. The U.S. cotton industry is committed to work with the U.S. and Brazilian governments over the course of their discussions on this issue.
"The two critical aspects of the agreement are that it avoids the immediately harmful economic effects of trade retaliation and it puts the serious discussion concerning changes in the U.S. cotton program before Congress in the 2012 farm bill, which is where that discussion belongs. Under Secretary Jim Miller, Ambassador Miriam Sapiro and Ambassador Isi Siddiqui are to be commended for their effort and this creative approach that enables all parties to work diligently on these issues in the months ahead."