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Brazil hails victory over U.S. in WTO cotton controversy |
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10:58, June 03, 2008 |
Brazil expressed on Monday its satisfaction with a ruling of the appeals court of the World Trade Organization (WTO) on U.S. cotton subsidies, which Brazil claimed to be protectionist.
The WTO Dispute Settlement Body ruled on Monday that the United States had failed to remove its illegal cotton subsidies in compliance with an earlier WTO verdict.
The Brazilian Foreign Ministry said in a statement that once the decision was made in the ultimate phase of the process that analyzed the matter, it expects Washington to carry out the necessary changes in its legislation in order to follow the demands from the WTO appeals court.
The U.S. government's measures considered insufficient by the Brazilian government were the elimination of a program to subsidize the purchase of cotton and the implementation of administrative adjustments in its credit insurance programs for exporters.
Brazil first questioned the U.S. cotton subsidization policies in 2002. After the WTO Dispute Settlement Body adopts the decision announced on Monday, which is expected to be effective within 30 days, Brazil will send the matter to the settlement panel that will determine the counter-measures the organization will impose on the United States in case it does not follow the resolution.
Analysts said the decision could allow Brazil to apply sanctions amounting to billions of dollars on the United States.
Source: Xinhua
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