Tuesday, 26 August 2008

Brazil takes next step in bid for WTO sanctions against the US

PR-Inside reports that Brazil yesterday formally asked the World Trade Organization for permission to impose up to US$4 billion in annual sanctions against goods and services originating from the US in order to penalize the US for handing out illegal cotton subsidies. This June the US finally lost its appeal in the six-year-old dispute -- the first farming dispute brought by a developing country since the WTO was founded.

Brazil has already warned that it is likely to target US trade marks, patents and commercial services in retaliation. Three years ago Brazil appeared to be considering the communications, construction, engineering, finance, tourism and transport sectors.

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