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On 1 October 2014, U.S. Trade Representative Michael Froman and Secretary of Agriculture Tom Vilsack announced that the United States and Brazil have reached agreement to settle the longstanding Cotton dispute in the WTO. Under the terms of the agreement, Brazil will terminate the Cotton case, giving up its rights to countermeasures against U.S. trade or any further proceedings in this dispute. Brazil has also agreed not to bring new WTO actions against U.S. cotton support programs while the current U.S. Farm Bill is in force or against agricultural export credit guarantees under the GSM-102 program as long as the program is operated consistent with the agreed terms. For the 2014 Memorandum of Understanding, please click here. |
