Brazil v USA - a draw?

While the title appears to be a football match, this is indeed the news that Brazil has suspended (temporarily) the retaliation against the US.

Last Thursdays (10/06), the Senate of Brazil approved the suspension of obligations under the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) against the US under the dispute "United States - Subsidies for Cotton." The document, the ‘Conversion Law No 6’ will go now to presidential approval.

On 2009, the World Trade Organization (WTO) upheld the Brazilian complaint against the United States due to the subsidies granted to cotton producers. On February this year, CAMEX (Câmara do Comércio Exterior – Brazilian Chamber of Foreign Trade) approved and the Brazilian President signed, an updated list of 220 American products that would suffer tariff increase of up 100% of the value when imported into Brazil - interim measure 482. On March, CAMEX published the final list of retaliation products and held a public consultation on 21 measures of retaliation in intellectual property rights - Resolution no. 16, of March 12, 2010.

The document provides for retaliatory measures such as suspension of rights, limited term for rights over medicines products, grant of compulsory licensing, among others.

According to CAMEX press, “due to bilateral negotiations now in progress, Resolution No. 20/2010 delayed for 60 days, until June 21st, the beginning of retaliation.”

To see the post thread, follow this link here