This week’s Cotton Newsline is 4 cut. All cuts are Gary Adams, vice president of economics and policy analysis, for the National Cotton Council.
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The WTO Arbitration Panel has released their decision regarding the ongoing dispute between the U.S. and Brazil involving the Export Credit Guarantee program and portions of the US cotton program. Gary Adams, NCC’s vice president of economics and policy analysis, says the panel concluded that Brazil would be authorized to seek retaliation of approximately 147 million dollars related to certain aspects of the cotton program and another147 million dollars related to the Export Credit Guarantee Program.
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Adams says this award was based on the 2005 marketing year, which was almost an historical peak for U.S. cotton production.
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According to Adams, the U.S. share of world cotton production has declined by eight percent since 2005 and the retaliation authority granted by the panel does not reflect these changes.
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Adams says the Council commends the efforts of the Office of the U.S. Trade Representative and the professionals from the U.S. Department of Agriculture for the work and time spent on this case.