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Notes # 22 reading

Notes # 22 reading - World News U.S Loses Ruling On Cotton...

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World News: U.S. Loses Ruling On Cotton Payouts Peter Fritsch , John Lyons . Wall Street Journal . Brazil, the world's biggest exporter of coffee, sugar, beef, chicken and iron ore, imports $18 billion a year of American goods and has long complained that many of its products face unfair obstacles to the U.S. market. A ruling against the U.S. in a long-running fight with Brazil over American payouts to cotton growers sets an important precedent for developing nations concerned by what they see as excessive U.S. support for farmers. A WTO arbitration panel ruled Monday that Brazil is entitled to $295 million upfront, and nearly $150 million a year, for the U.S. failure to eliminate subsidies to the cotton industry. the ruling opened an important door to reciprocal measures that could punish American pharmaceuticals companies and other owners of intellectual property. Brazil could target other American goods if U.S. cotton supports rise significantly beyond current levels. Brazil has targeted patented U.S. drugs for potential
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