Monday, March 2, 2009

Brazil has asked the U.S. to impose a fine on 2.5 billion dollars.

Brazil asked the World Trade Organization (WTO) to request the U.S. to impose a fine on 2.5 billion dollars. That was reported by AFP, referring to the representative of Brazil at the WTO Robert Azevedo (Roberto Azeved).
Thus the Brazilian side is trying to protect its cotton producers, whose interests, according to the authorities of Brazil, suffered from the U.S. in 1998-2000. Rather, we are talking about export subsidies, which cotton producers from developing countries can not compete with American.
Remember, back in late 2005 at the summit of the WTO, it was decided to abolish subsidies for cotton production from 2006. Then the news reported that the most important this issue is for the U.S..
In June 2008, Brazil has asked the WTO to complain to U.S. authorities, noting that the U.S. violated international trade rules, promoting their own cotton producers. In the WTO, it is confirmed. At that time, the Brazilian side had planned to ask the organization to apply to the U.S. penalties in the amount of one billion dollars.

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