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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Wall Street Journal., Brazil Reach Agreement, excessive U.S. support